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Web Accessibility Statement

Good faith efforts have been made to ensure that our site complies with Federal and New York state standards on website accessibility and with Web Content Accessibility Guidelines 2.0, set forth by the World Wide Web Consortium to the best of our technical ability. If you are unable to access any pages on our site, please contact us toll free at 800-447-3386 or compliance@spmc.com with information on the portions of the website that are inaccessible to you. Please provide your name, telephone number, and email address so that we may contact you to provide our information in another format.

The Sierra Pacific Mortgage sign on the building.

Web Accessibility Statement

Good faith efforts have been made to ensure that our site complies with Federal and New York state standards on website accessibility and with Web Content Accessibility Guidelines 2.0, set forth by the World Wide Web Consortium to the best of our technical ability.

1. Do I always need a 20% down payment to purchase a home?

The common thought process behind this question is that, by making a 20% down payment, you avoid needing to pay the additional Mortgage Insurance (MI) fee. This does not, by itself, cause you to be eligible or ineligible to purchase a home.
 
In most cases, you do NOT need to put down 20% to qualify for a home. There are many options to consider that require a much lower down payment.
 
In some cases, you may be eligible for a loan with a down payment as low as 3.5% or even no down payment at all!

If you are unable to access any pages on our site, please contact us toll free at 800-447-3386 or compliance@spmc.com with information on the portions of the website that are inaccessible to you. Please provide your name, telephone number, and email address so that we may contact you to provide our information in another format.

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