Being part Alaska Native, there was incentive where they would pay your down payment and we utilized that tool!

Down payment amount varies and more you put down the highre you will be in the queue of applicants, also down payment varies per your credit...Dodd Frank IS in play!!

where is see a total cluster with Morby students is they are now selling their car's sub too.. can just see it.. sell a car to someone on facebook with the promise they will pay our payments ..

I'm guessing for the down payment?  

Our program only requires a small 10% down payment on the purchase price and we will fund 100% of your rehab costs.

And depending on where it's at, it could take $100K-$200K for the down payment.

On my properties about half of the mortgage payments go into escrow for taxes.

There are no pre payment  penalties on a conventional loan and when looking at the total finance charges, conventional is the way to go if you can qualify. 

@Timothy Frazier Yes, the only reason to use HML as a down payment is if the property is "mostly turnkey" AND you don't have the funds to renovate AND you have strong CMA comps from a real estate agent that supports that the fact that you are buying a property that is under valued AND your renovations would push that so that you could refinance.

I wouldn’t want to hold the loan for too long, so ideally it would be a 5 year term, presumably ballon payment at the end.