Down Payment

 

In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan). Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most home buyers choose to buy with some cash up front. Based on your household income and down payment, you can get a good idea of what price-range you should be looking into.

This is a major question on every borrowers mind—“How much money do I have to put down?”

With an FHA loan it can be as little as 3.5% and investment property has a requirement of 20% down.  VA loans require no down payments, but all loans have closing costs.

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