Mortgages when putting 20% down or more | Michael Friedman
Conventional Mortgage

Conventional Mortgage

Mortgages when putting 20% down or more

Being eligible for a ‘conventional mortgage’ means you’re able to make a down payment of at least 20% of the purchase price. Anything less than a 20% down payment is referred to as a high-ratio mortgage. 

 With a conventional mortgage, you’re not required to pay default mortgage insurance premiums, which means you can pay down the mortgage balance that much quicker. 

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