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Smaller Down-payments May Result in Better Interest Rates – But

Posted by janepeters on September 7, 2009
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Strange as it may seem, the less you put down on a house, the lower your interest rates will be.  However, this may not always be of benefit to the borrower.

For example, in late August a borrower putting $80,000 on a $400,000 purchase, with a good credit score, around 720, would have qualified for a 4.875 rate on a 30-year fixed mortgage. The same rate was offered to borrowers only putting 5% down. And those who put down 25% got an even higher rate, 5.375%.  Why? Continue Reading

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