Читать книгу Your First Home - Kimberley Marr - Страница 7

A conventional mortgage is a mortgage loan that is equal to or less than 80 percent of the lending value of the property (i.e., the purchase price or market value, whichever is less). In other words, the down payment is at least 20 percent of the purchase price or market value. Most buyers use savings or a combination of investments and savings to make up the down payment. However, there may be other options to source or arrange for a portion of the down payment (more on this in Chapter 4).