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No! With FHA loans you can get approved for as little as 3.5% down, VA and USDA loans can offer you $0-down options, and with Private Mortgage Insurance (PMI) you can get into your new home with less than a 20% down payment. Whatever your situation, you have options.
No. Pre-qualification and pre-approval are two different things. Pre-qualification means that a mortgage lender has reviewed your financial records and believes you will qualify for a
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