Expert Insights: Why Do Lenders Require a Down Payment?
It protects them should you default on the loan, especially if you fail to make payments in the early years of the loan when more is owed on it. Foreclosure, property fix-up, and resale costs could result in a loss on the mortgage loan. That is a bad situation the lender wants to avoid. So …
Expert Insights: Why Do Lenders Require a Down Payment? Read More »