Central Connecticut State University: How does a down payment below 20% affect the budget?
DIRECT ANSWER
Original source observation: October 16, 2026. Primary-source review: October 17, 2026. General educational guidance; no rate quote, commitment, program approval or underwriting result. Intended occupancy and rental use require lender/program review.
CFPB says a down payment below 20% will likely require mortgage insurance, adding to monthly costs. Recalculate the target price with the insurance cost included and ask lenders for product-specific terms.
Sources & verification
- www.consumerfinance.gov Independently reviewed primary source
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