That would mean that with an FHA mortgage loan, you would only need $12,197 as a down payment for this beautiful $348,500 new home pictured below!
Courtesy of HDA© Copyright by designer/architect
House Plan #592-073D-0037
A Grand Beamed Entry With Arched Window
1665 Sq. Ft., Width 45'-8", Depth 41'-8"
3 Bedrooms, 2 Full Baths
Not only are down payments lower with FHA mortgages, an FHA loan is the easiest type of real estate mortgage loan to qualify for.
Since FHA loans adhere only to FHA credit qualifications, they offer many options conventional home loans don't, such as being able to use gift money as down payment money, not having perfect credit...read the rest at my Low Down Payment Mortgage.