It makes lots of sense to put down 20% for your down payment. Here are just a few reasons: 
■ Long-term, it provides an extra cushion further down the road should there be a disruption in your cash flow.
■ Lenders see a 20% down payment as a better credit risk.
■ The 20% you put down helps to define you as a serious buyer, and in this market, serious is the name of the game.
■ With a 20% down payment, you can often get a lower interest rate.
■ With a 20% down payment, many lenders will not require you to purchase private mortgage insurance (PMI), which protects the lender against non-payment in the event of a default.
■ The 20% immediately becomes home equity in your property, which will allow you to borrow against it for such things as home improvements.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.