4 Reasons to Avoid a No Money Down Mortgage Loan
If you are looking into applying for a home mortgage loan, there are plenty of options. This even includes a no money down option, which may sound tempting because it keeps more money in your pocket for the time being. However, here are four reasons to avoid doing this:
You Pay Higher Interest: When you apply for a no money down mortgage loan, you are paying 100% of the purchase amount for the house on the loan.