What should be my down payment amount?


Typically, the recommendation is to make a down payment of 20 percent of the purchase price. Some lenders will allow as little as 5 percent down and with government-backed loans, such as FHA or Department of Veterans Affairs (VA) loans, it can be less. However, be careful. Lower down payment loans often require mortgage insurance and a higher interest rate, which adds to your overall cost. It is usually a good idea to put down as much as you can, while still maintaining enough to weather potential emergencies or lower income.

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text. captcha txt