If you're like many home buyers, a down payment is the biggest obstacle between you and homeownership. Finding a lender with low- or no- down payment mortgages could be the difference between buying a home now or having to wait months or years.
Putting less money down could mean buying a home sooner. But lower down payments have disadvantages, too, such as higher mortgage payments, so it's important to understand and weigh your options before you decide to purchase a home.
Pros and cons of low- and no-down-payment home loans
The pros: You don't have to wait until you have enough money saved for a large down payment; which means you can become a homeowner and start building equity sooner.