It depends. Mortgage insurance is required on all FHA loans, and we have options when it comes to conventional loans. If you put less than 20% down with a conventional loan, you are required to pay mortgage insurance, either monthly or up front which is paid by the lender. Often the lender paid mortgage insurance has tremendous benefit to the borrower. For jumbo loans, there is no mortgage insurance required, no matter how little your down payment is. The RedDoor app makes it easy to compare downpayment options with and without mortgage insurance.

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