What is the typical down payment Mortgage companies are now asking for?

We plan on selling our home (Are taxes are very hight for a town home) and will break even if it sells. For what we pay in taxes and maintance we could move into a nice home with a yard for the same price. Only thing is we don't want to put 20% down. Both are working and have excellent credit scores. Thanks!What is the typical down payment Mortgage companies are now asking for?
Debbie, you aren't required to put 20% down, however if you don't you will pay PMI each month which can add hundreds to your mortgageWhat is the typical down payment Mortgage companies are now asking for?
Typical mortgages require 20% down. Further, the total of the monthly mortgage (P%26amp;I), HOA Fees, Property Taxes, and Insurance should not exceed 31% of your gross income. If you have other loans, those added to the home payments (etc) should not be more than 35% of your gross pay.





The old standard was less than 20% required PMI. But, with recent issues, good luck finding a bank that will put their skin into your home if you're not putting up the full 20%.
generally speaking most of the companies are asking for 20%.