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Save a lot of money later
with a larger down payment now

Consider making a larger down payment on your home purchase. A larger down payment will save you money by

  • reducing the amount of your monthly principal and interest payment, and
  • reducing the total amount of interest you pay over the life of your mortgage.

And, depending on the size of your down payment, you can reduce, or even eliminate, the cost of mortgage default insurance, which is required with down payments of less than 20%.

Use our Mortgage Payment Calculator to see how reducing your mortgage with a higher down payment can save you money.

How increasing your down payment can save over the life of your mortgage.

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