You want to buy a $250,000 house and you will use a conventional mortgage. What is the minimum down payment you have to make to avoid having to purchase mortgage insurance?

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To avoid purchasing mortgage insurance with a conventional mortgage, you typically need to make a down payment of at least 20% of the home's purchase price. For a $250,000 house, 20% is $50,000.

You Want to Buy a $250,000 House and You Will