Are you more likely to be approved for a mortgage with a large down payment?

Are you more likely to be approved for a mortgage with at least a 50% down payment with a less than perfect credit rating?Are you more likely to be approved for a mortgage with a large down payment?
Not necessarily, there are various programs that are designed for buyers that don't have enough assets for a conventional down payment on a loan (20% of purchase price).





Most of the determinants considered for a mortgage applicant are centered around income-to-debt ratio, credit score, and assets available. This doesn't mean that you'll have to put much down to get financing.





There are various programs that are sponsored by the government to get people into homes with little or no money down. If you are located in a rural area, there is a program with the USDA that will allow you finance up to 102% of the appraised value. If you have stable income and decent credit there are many options available to you.





I hope that is helpful.Are you more likely to be approved for a mortgage with a large down payment?
YES. The larger the down payment and the better your credit, the more likely to get a loan at a great rate. When your credit isn't perfect, having a larger down payment can help. Your past history of poor financial decisions is catching up to you. You can improve your credit month by month by paying all bills in full, paying everything on time, paying off delinquencies, payind down credit balances, etc.
Only if that large downpayment makes the amount borrowed manageable for you to repay. Meaning you cannot buy a house for 500k, put 250k down, borrow 250k with an income of 30k a year.
I have been told by plenty of mortgage loan companies in the past (more than 2 years ago) that if you have poor credit the only way to buy a house is with 20% down. However, I think things are changing.
for sure, the larger your down payment the less risky the loan will be to the bank. They know you are serious about keeping the house and are less likely to walk away from it.
no. the bank usually only cares about your source of income. i tried this once and they did not care only wanted paystubs and tax returns. otherwise drug dealers could just go around buying nice houses...
Everything else being equal, yes.