Answers by Rachelle Latapie

Hi Everett, Rachelle here a local real estate agent in the Stevens and Spokane county areas. You do not "have" to put 20% down, 20% down will lower your monthly payment because you will not have private lender mortgage insurance costs (PMI). Most buyers are buying and putting 3% to 10% down either conventional or FHA depending on your credit score, the reason most are doing that is so they can keep reserves in the bank for home repairs or remodeling or if they don't intend on keeping that home longer than 10 years. I would love to answer anymore questions you have or put you in touch with a lender to help explain that more. Let me know what other questions you have.