Is it going to be different rate for 10% and 20% down?

[Anonymous]

I am wondering if the down payment has any effect on the interest rate or it depends only on the credit score. If I put 20% down instead of 10% can I have the interest rate reduced somehow? Thank you.  

[chasmith]

If you have less than 20% equity you may be paying for PMI, an significant cost at closing and ongoing.

[BrianB_The_Loan_Professor]

You may be suprised - it wont be significant as far as rates go but a 90% with PMI may get better pricing than 80% as it presents less risk to the bank

however the PMI will mean higher monthly costs to you

that is where the real savings is

if you can do 20% down your monthly will be a lot less

Brian