Should I put more or less money down? 

For some people, a no money down home loan may be the only way to buy a home. First time home buyers may not have enough saved up for a 20 percent down payment or might want to use the money they've saved for other uses like buying furniture or other necessities for their new home. It may be that they have found a home and want to lock into it now before the home appreciates to a point where they can no longer afford it.

By not putting as much money toward a down payment, you can use it for other things such as paying off or consolidating debt. It makes good financial sense because mortgage interest is usually tax-deductible and rates are lower than most credit cards. You may also need that extra money to pay for your children's education.

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