I just read an article about the rental market across the United States and it seems that just like here in Orlando, it is often less expensive to buy than to continue renting. If that’s the case, what is keeping renters on the sideline? It seems that two main factors are credit as well as the sizable downpayment that is required. As median prices have increased and buyers are wanting to put down 20% it seems they may never have enough saved. It is true that putting down 20 % can help homeowners avoid paying PMI, which is mortgage insurance on their home every month, it isn’t the only way to buy. There are many different loan options, including FHA, smaller downpayment conventional options, VA products, as well as USDA loans. The best way to find out about all of your options is to consult with a lender. You may be able to capitalize on lower interest rates and purchase a home with less money out of pocket than you think.