In this short video, mortgage expert Bill Rayman describes the difference between FHA loans in Los Angeles which may only require 3% down payment, and the benefits of a 20% or more down payment. He briefly covers the role of mortgage insurance, which is required on loans where you put less than 20% down. (Mortgage insurance is covered more in depth in this video.)
Bill Rayman offers comprehensive and credible information about the mortgage loan process in Los Angeles, so that buyers can avoid mortgage loan scams and make sound financial decisions for the future. If you need help navigating the mortgage loan process, contact us for a consultation.