The more you put down, the better your rate. Yes, 20% down is a lot better than 5% down, but not all loans are the same either. If you are a veteran, you can get a 100% LOAN. FHA and USDA have some good interest rate loans that you don’t have to put down a lot, but you might have to pay mortgage insurance (depending on the loan) to make up for it which adds to the cost of the loan until you have a 20% equity in the house.
These are some of the loans available but there are many more. If you would like to get a lender to help you understand all of this, give us a call and we will help you find the right lender for your situation.