Most home purchases are made initially

Question

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The most common way people purchase homes is with a 10 to 20 percent down payment and a mortgage. This allows the buyer to finance the majority of the purchase while still having some equity in the home. A 5 percent down payment is also an option, but may result in higher monthly mortgage payments and potentially higher interest rates. Buying a home with no down payment is possible through programs like VA loans, but is less common among buyers.

Most Home Purchases Are Made Initially