Home loan, and more
This will of course result in higher monthly payments for you. Also, because you didn't make the standard 20 percent down payment, you will have to pay PMI. Let's review the options. When deciding how much to put down on a home, it's important to know what your options are so you can decide what works best for you. Q: Are you interested in gaining equity as soon as possible and thereby decrease your monthly costs? If so, paying the 20 percent down payment is your best alternative.