You can get a conventional loan without putting 20% down. That is, as long as you meet all of the lender’s other requirements for mortgage approval (such as debt ratios, credit scores, employment, etc.).
You can get a conventional loan with as little as 1% or 3% down. The minimum down payment for FHA’s 3.5%. FHA loans also require you to pay monthly mortgage insurance, potentially for the life of the loan depending on the size of your down payment.
The best-educated (by TV, not schools) segment of the US economy remains active and eager to do as instructed: Spend any cash.
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