Conventional loans are a good option for borrowers who can afford a larger down payment of 20 % or more and want to avoid the added cost of mortgage insurance. (bpfund.com)
This is why so many borrowers aim for a down payment of 20 % — it allows them to avoid the extra cost of mortgage insurance entirely. (homebuyinginstitute.com)
However, this doesn't take into account the potential costs of mortgage insurance or local taxes, which can add to your monthly payment. (valuepenguin.com)