Conventional condo mortgages don’t always come with higher down payments. Just because you are forced to apply for a conventional mortgage — one guaranteed by Fannie Mae or Freddie Mac — doesn’t mean you’ll have to come up with a down payment of 20 percent or 25 percent of your condo unit’s cost.

Check out the web’s best free mortgage calculator to save money on your home loan today. Estimate your monthly payments with PMI, taxes, homeowner’s insurance, HOA fees, current loan rates & more. Also offers loan performance graphs, biweekly savings comparisons and easy to print amortization schedules.

home improvement that add value Home Improvements That Add the Most Value – CNBC – Home Improvements That Add the Most Value. Laing purchased the house for $270,000 in 2009, and he reports it was recently assessed by a realtor at $460,000. He says the best money he spent was the $1,000 to 2,000 it took to hire an interior designer/architect to help with planning before starting renovations.

The 15-year fixed-rate averaged 3.05%, down 4 basis. last year’s payment was $269 big bucks higher than this week’s.

Some mortgage programs allow the down payment to be a gift from a friend or family member. To avoid PMI without 20% down consider an 80/10/10 piggyback mortgage . A piggyback loan is a separate loans, one for 80%, one for 10% and a 10% down payment.

. has knocked about $160 off a monthly mortgage payment on a $286,000 home – the median price of existing single-family homes in June, according to the National Association of Realtors – after a 20.

For many home shoppers, saving up for a 20% down payment is not easy, but it can have significant financial benefits. For starters, it will help you avoid paying private mortgage insurance (pmi) and lower your monthly mortgage payments. The infographic below looks at all the benefits of a 20% down payment for a mortgage:

Our down payment calculator tool helps you understand what your minimum potential down payment could be in your geography based on the target home price that you choose. First we look at the loan limits for different mortgage types in your location, then we take your target home value and identify.

The insurance premium depends on the amount you’re borrowing and the percentage of your down payment. Premiums range from 0.6% to 4.5% of the mortgage amount. You can pay for the insurance when you buy it or just add it to your mortgage total 1 .

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Regardless of down payment percent, FHA loans always require upfront and monthly mortgage insurance premiums; however, the percentage of down payment.

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