Purchasing Your First Home With No Money Down

A no down payment mortgage is self-explanatory, but how common are they? Not very, but it can be done. You see, today's economy has changed things drastically in the world of real estate. For example, 20 years ago people were expected to put 20 percent down on a home. Today the average down payment is a mere 3 percent. It is no secret that houses are not selling quickly; this may increase your chances of purchasing your first home without a down payment if your credit glimmers.

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