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There are mortgage options now available that only require a down payment of 5% or less of the purchase price.  Mortgages with less than a 20% down payment generally require a private mortgage insurance (PMI) policy to secure the loan.  For example, if you pay 10% down on a $100,000 loan, PMI might cost you about $40/month or $480/year.  However, the actual rate is based on various factors including the size of the loan, the amount of the down payment, and your individual lending institution. The only way to find out the exact amount is to contact your lender directly. 

To find more information about mortgage insurance, visit the web site of U.S. Mortgage Insurers.

U.S. Mortgage Insurers
1101 17th St NW, Suite 700
Washington, DC 20036
(202) 280-1820

The U.S. Department of Housing and Urban Development Customer Service Department can answer your questions about PMI and low down-payment loans.

U.S. Dept. of Housing & Urban Development
Attn: Customer Service
451 7th Street, SW
Washington, DC 20410
(800) 767-7468