Most individuals pay for a home with a down payment of five percent or less and then obtain a mortgage to finance the rest.

Name: Most individuals pay for a home with a down payment of five percent or less and then obtain a mortgage to finance the rest.
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While some individuals may pay for a home with a down payment of five percent or less, it is not true for most. Many lenders require a down payment of at least 20% to avoid mortgage insurance or may offer lower rates to those with higher down payments.

Most Individuals Pay for a Home with a Down Payment