Hi Jhealz,
Minimum down payment you can put can be as low as 1 % (Savings Bank of Danbury & HDF First Time Homebuyer Program) or 3.5 % with FHA or CFHA ( State and Federal Programs).. if you put down 10% down, a local bank here in Danbury, Union Savings Bank has a great program which doesn't require any PMI.
There is also a USDA Rural Housing program that require no money down . There are certain restrictions on the qualifying towns with this program..
please counsel with a experienced mortgage officer..That's the key. you also a need a good real estate agent to help you to find you your home for the area of your choice..
Please let me know if you need my help to locate a mortgage officer or a home to live in anywhere in entire Connecticut.
Email: deeceylan@prudentialct.com....
Good Luck..
Dee Ceylan, Realtor. - Thu Jul 9 2009, 22:49