Subprime Mortgages ? How Large Of A Down Payment Do You Need?

Subprime mortgages offer more flexibility with down payments than conventional home loans. You can choose to put nothing or over 20% down. And with a subprime mortgage, you don?t have to worry about paying private mortgage insurance.
Zero-Down Mortgages
Zero-down mortgages allow people with little money for initial costs to buy a home. Even with a zero-down mortgage you can expect to pay loan fees and points, which can still add up to a couple of thousands. However, there are financing plans that wrap loan costs into the mortgage.
The basic zero-down mortgage consists of one loan or two. If your lender decides to split your mortgage, you may need to find another lender to carry the second mortgage.
Zero-down mortgages come at a cost of higher interest View the rest of this article