What is the required down payment on new home purchases?

Answer The amount of down payment required to purchase a new home is determined by the type of mortgage selected. The minimum down payment can range from zero to 5 percent of the purchase price, depending... Read More »

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How much of a down payment is required on an fha mortgage loan?

An FHA mortgage requires at least a 3.5 percent down payment as long as your credit score exceeds 580. If your credit score does not meet this requirement, you must put down at least 10 percent.Ref... Read More »

What is a down payment on a home?

The down payment on a home refers to the amount that you pay out of pocket for the house rather than financing with a mortgage. For example, if you bought a house for $200,000, paying $30,000 and b... Read More »

What is the percent of a home loan's down payment?

A borrower's down payment depends in part on her credit score and the loan she's getting, but, in general, lenders like a borrower to have a down payment of between 3 percent and 20 percent of the ... Read More »

What is the minimum down payment on a conventional home loan?

A conventional home loan, which is underwritten by either Freddie Mac or Fannie Mae, requires a minimum down payment of 5 percent of the purchase price of the home. The down payment may be up to 20... Read More »