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There are plenty of good reasons to buy a home — financial stability, building equity in a place of your own, and not having to follow a landlord’s rules.
If you’re eager to buy a home in 2022, here are four important tips to help make that happen.
Key insights:
It’s possible (and common) for buyers to purchase a home with less than a 20 percent down payment.
In addition to a down payment, financial factors and credit history are important considerations for loan approval.
Pending other factors, buyers with less than 5% down can get approved for a variety of loans — including conventional, FHA, VA and USDA loans.