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2. Do you need a down payment to refinance your mortgage? - AOL

   www.aol.com/finance/down-payment-refinance...

   You don’t need a down payment to refinance, but you’ll likely have to come up with cash for closing costs. Some lenders let you roll closing costs into the mortgage to avoid upfront expenses.

3. Do I really need a 20 percent down payment for a house? - AOL

   www.aol.com/finance/really-20-percent-down...

   The median price for an existing home in the U.S. was $379,100 as of January 2024. A 20 percent down payment on a home at this price would come to $75,820. Regardless of price or loan type, though ...

4. How much money do you need to buy a house? 6 costs to ... - AOL

   www.aol.com/finance/much-money-buy-house-6...

   Start saving for a down payment: You’ll typically need at least 3 percent of the purchase price of the home as a down payment. The more you are able to put down upfront, the less you’ll have ...

5. Glossary of US mortgage terminology - Wikipedia

   en.wikipedia.org/wiki/Glossary_of_US_mortgage...

   The Balloon payment mortgage does not fully amortize over the term of the note, which leaves a balance due at maturity, known as a "balloon payment." Interest only mortgage - A type of mortgage where the borrower pays only the accruing interest on the principal balance. These payments on interest leave the principal balance unchanged.

6. Down payment - Wikipedia

   en.wikipedia.org/wiki/Down_payment

   In the United States, down payments for home purchases typically vary between 3.5% and 20% of the purchase price. [1] The Federal Housing Administration has advocated lower down payments since its inception in 1934, and, currently, borrowers that qualify for an FHA loan pay only 3.5% for a down payment.

7. What is a down payment? - AOL

   www.aol.com/finance/down-payment-180952544.html

   The need for more time to save: ... Why do mortgage lenders require a down payment? Mortgage lenders require a down payment primarily as a hedge against risk. With a down payment, if the lender ...

8. 5 biggest myths about mortgage refinance - AOL

   www.aol.com/finance/5-biggest-myths-mortgage...

   It’s true that you don’t need to make a down payment. But a refinance is still a mortgage, and — like your first home loan — it carries closing costs. These fees can amount to as much as 2 ...

9. Loan purpose - Wikipedia

   en.wikipedia.org/wiki/Loan_Purpose

   In the United States, loan purpose is the underlying reason an applicant seeks a loan or mortgage. Lenders use loan purpose to make decisions on the risk and what interest rate to offer. For example, if an applicant is refinancing a mortgage after having taken cash out, the lender might consider that an increase in risk and increase the ...