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How to Qualify for Low Down Payments
To qualify for a low down payment loan you generally need
the following:
- Adequate income to support the monthly mortgage payment
- Enough cash for the down payment
- Enough cash for closing costs
- Good credit with good payment history
- Appraisal of purchase property proving home to be purchased
is equal to purchase price
- Cash reserves of at least two months mortgage payments,
in some cases
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