Typically there is an established threshold for a minimum downpayment on a home loan in...
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Typically there is an established threshold for a minimum downpayment on a home loan in order to avoid paying Private Mortgage Insurance. Third Federal has a minimum that
A) Is in line with the 20% down payment normally required by most lenders
B) Since they dont sell their loans, they dont need to comply with the Secondary Market requirements for PMI.
C) Offers borrowers loans with 15% down without charging PMI
D) Needs to be higher than 20% down due to the conservative nature of a small lender
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