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Few items:
1. What you put on the contract and what you do in actual life can be two different things. Can put 20% and only put down 3% but see item #4...this is a little more complicated but it's true.
2. 3% and 5% loans are back w/amazing terms.
3. If you're a first time borrower, if this is going to be your primary...check with your lender, rates will probably be more beneficial.
4. Get an actual pre-approval letter where lender goes through all of your financials and tells you exactly what you have in your hands, not the kind that you call the bank, answer a few questions, and they send you a letter.
5. ALWAYS, try to go directly to a bank to get a loan...you'll forgo fees that brokers often charge for their services. Not all banks are created equal. ALWAYS go to local banks and try 3 or 4...ask your broker what bank will look at your deal favorable.
6. If banks can't put it together, a creative BROKER may have access to a different cash source. Don't discount Brokers...once again, all not created equal. Ask your RE broker (also, not all created equal).
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