It has been observed from past three years that, everyone is getting many issues regarding the sluggish economy process around the world. With this crisis, some of the people are unable to repay their home mortgage loans. Here is the good news that, the world is recovering from this crisis position, and everyone is trying to invest to purchase dream home. If you are new to this home mortgage, then you will confuse about the need for a down payment. Here is one thing that we need to understand that, purchasing a dream with a large sum of money would be a daunting task, especially for those who are starting out in life. If you have low income then it seems next to impossible to come up with whole twenty percent to avoid mortgage insurance, still there few hope for these people. You can find so many money lenders who are able to give you so much money even though you are not having the sufficient amount to put down payment.Most of these money lenders will give you money based on five to twenty percent of an amount as a down payment, and you can find some people will give you at zero percent, but finding them is a hard task for you. Here is one thing we need to understand that, if you choose larger down payment format, then there is chance of avoid bad credit history. Apart from this, if you are choosing a format of twenty five to thirty percent of down payment, then the lender will not look into your income and approves your loan within minutes of time. If you are not able to manage at least twenty percent of down payment, then you need to pay mortgage insurance and monthly installments.From the above line, we can understand that, if we are able to invest bigger amount in down payment, then we are able to obtain bigger and better house and there is a chance of getting lower mortgage payments each month will be. There are so many mortgage calculators available in the online, which helps you to get a best deal, based on how much amount you are going to spend on your new home. These calculators will consider some points like how much you are earning every year and amount of debt you are currently paying off.If you want the entire process of mortgage as smooth as you expected, then you need to do some things. For example, if you are having a sufficient amount as a down payment, then you need to go well before applying for a mortgage. Moreover, it is a good idea that, start planning for saving before approaching for a home loan mortgage. If you are able to save money for down payments, then you need not to worry about defaulting on any of your payments. If you are still experiencing issues with down payment, then you need to consult your family members to borrow some money from them. If this will not work, then you need to search for a special mortgage, especially for first time home buyers. I think these home loans are just for you.