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> I remember both times the lender just asked how much we wanted to put down Well then why doesn't everyone say zero? Why is it even a thing?
by chrisseaton 5y ago
> I remember both times the lender just asked how much we wanted to put down
Well then why doesn't everyone say zero? Why is it even a thing?
- kube-system 5y agoBecause more equity = lower risk and lower risk = more options and lower borrowing costs
- staticman2 5y agoYou usually can't put zero down. You have options but zero is not one of them. But in answer to your question putting more down can get you a better interest rate on the loan or less fees.
- smnrchrds 5y agoI don't know about other countries, but in Canada, the banks cannot legally approve a mortgage without a 5% or higher down payment.