{"id":5610,"date":"2013-11-07T13:57:17","date_gmt":"2013-11-07T13:57:17","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=5610"},"modified":"2013-11-07T13:57:17","modified_gmt":"2013-11-07T13:57:17","slug":"banks-offering-loans-5","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/banks-offering-loans-5\/","title":{"rendered":"More Banks Offering Up Loans for 5% Down?"},"content":{"rendered":"

More Banks Offering Up Loans for 5% Down?<\/h2>\n
\"Image<\/a>

Image courtesy of Grant Cochrane \/ FreeDigitalPhotos.net<\/p><\/div>\n

For the last few years, buyers have been hard-pressed to land a mortgage if they didn\u2019t have a 20 percent down payment, unless they turned to the Federal Housing Administration\u2019s low down-payment loans.<\/p>\n

But a growing number of banks are now offering loans with just 5 percent down, CNNMoney reports. For example, Bank of America, Wells Fargo, and TD Bank are among the banks reportedly offering mortgages with down payments as low as 5 percent.<\/p>\n

TD Bank is offering a \u201cRight Step\u201d loan product that allows borrowers to get a loan with a 5 percent down payment while also allowing borrowers to get up to 2 percent of the sales price as a gift from a relative or third party. In actuality, then, borrowers would only need to come up with a 3 percent down payment themselves.<\/p>\n

Banks that are offering 5-percent down payment loans, however, are requiring borrowers to purchase private mortgage insurance. Borrowers will have to keep PMI until they build up 20 percent equity in the home.<\/p>\n

Source: \u201cBanks Offering Mortgages with Only 5% Down Payments<\/a>,\u201d CNNMoney (Nov. 5, 2013)<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

More Banks Offering Up Loans for 5% Down? For the last few years, buyers have been hard-pressed to land a mortgage if they didn\u2019t have a 20 percent down payment, unless they turned to the Federal Housing Administration\u2019s low down-payment loans. But a growing number of banks are now offering loans with just 5 percent … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-5610","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nMore Banks Offering Up Loans for 5% Down? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/banks-offering-loans-5\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-offering-loans-5\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-offering-loans-5\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"More Banks Offering Up Loans for 5% Down?\",\"datePublished\":\"2013-11-07T13:57:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-offering-loans-5\\\/\"},\"wordCount\":204,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-offering-loans-5\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2013\\\/11\\\/ID-100215887.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-offering-loans-5\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/banks-offering-loans-5\\\/\",\"name\":\"More Banks Offering Up Loans for 5% Down? 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