”I believe FHA should only be used to help lower-income individuals and first-time homebuyers.” At a congressional hearing in July, Bernanke suggested the private mortgage market was ready. Loan.

The average down payment for an apartment in NYC is 20% of the purchase. Save 6% Percent When You Sell with an Agent Assisted FSBO.

One of the most popular of the low-down payment loans is a Federal Housing Administration , which allows for a 3.5 percent down payment. One of the downfalls of this program, however, is that you still have to pay mortgage insurance premiums to protect the lender if you default on your loan.