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All sorts of lenders offer mortgages for as little as 3% down. It depends on what you qualify for, and what kind of financing you want to accept (MI, second mortgage, etc.)Ask around.
AnswerDo a little research. We've bought homes with NO downpayment.Yes, it really is possible.
But for most people, I'd recommend putting down as much as you can. Lowers your payments, you can often get a better interest rate, the downpayment is equity and it counts as pricipal rather than interest. If you don't think that last is important, have a nice long look at an amortization schedule sometime.
It'll turn you stomach to realize how much your home /really/ costs you in the long run.
AnswerIt all depends on what type of mortgage you are interested in... A lot of lender's offer 100% financing, but you will still need to come up with all closing costs associated with a purchase...For more info go to www.easy4myloan.com. The staff is very friendly and helpfull with any and all of your questions. AnswerIf you have served in the military you are probably eligible for a VA loan which has 0 down options. Also, an FHA loan has a down payment of 3.75% and when you purchase a home you can get the seller to contribute towards closing costs to conserve your cash. As far as putting as much down as possible, only when you get to 20% down do you eliminate the PMI or MIP (mortgage insurance payment). I would conserve the cash and have a 6 to 8 month emergency fund rather than putting it down on the house. You can always make extra principal payments and the interest is deductible after all. I would also find a local lender that you meet face to face, internet lenders might save a little money, but I have had too many deals where the underwriter is in Cincinnati, the lender is in Seattle, the property being sold is in Atlanta and you can never get a straight answer to a question in less than 72 hours!
What else can I help you with?
How do you put 65 percent as a fraction?
You can put 65% as a fraction, because 65 percent is the same as 0.65, which can be put into a fraction of 65/100 which can be reduced to 13/20.
What is 2 and a half percent of 200?
The answer to two and a half percent is easy. Simply find one percent,double it to get two percent and then half one percent to find the half. Put them together and you have two and a half percent.
What is percent as a fraction in simplest form?
Most times, you can put a percent over 100 to create a fraction. 37% = 37/100
What is 0.49 in a percent?
.49 in a percent is 49%. You always have to move the dot two times to the right if wanting to put as a percentage.
How do you put 3 percent as a fraction in simplest form?
.03/100
Can you get a mortgage to purchace a 395000 condo if you put 30 percent down but have a 577 credit score?
can i get a loan to purchace a 395,000 home if i put 30 percent down but have 577 credit score
Do you have to put a deposit down and rent to own home at the beginning when buying a home?
There are lease to own options. Normaly home buyers are buyers from the begining.
How much do you need to put down when buying a new home?
The minimum to put down on a home and the amount that "should" be put down are often completely different. The old standard was 20%. This kept the overall market stable. Now, home loans can be made for a far greater percentage, but it is probably safer and more economically intelligent to put down 20%.
What is cheaper a "rent to own" or actually buying a single family house?
Buying a single family home is going to be cheaper but you have to have cash in hand to put down on the house. Rent to own is nice because they will take a percentage of your rent and put it down on the property when you go to finance it into your name.
How can I use land as a down payment for a new home purchase?
You can use land as a down payment for a new home purchase by offering the land's value as equity towards the purchase price of the new home. This can help reduce the amount of cash you need to put down upfront when buying a new home.
If You want to purchase a home for 125000 the mortgage requires that you put 20 percent down payment what is the amount of your mortgage loan?
2500
Is it best to put 20 percent down on a house?
It is best to put 20 percent down on a house; then you avoid the PMI charge per month.
Who is responsible for fixing a septic system when buying a home?
Put it in the contract if you are buying, the current owner should fix it.
When buying securities investors must put up at least what percent of the purchase price?
Stocks and securities.
What if your buying lego's They cost 109.99 for a mega set No one is buying so they are put on sale for 25 percent off Later they are put on sale for 20 percent off the first sale price How much does?
I don't know if tax is already calculated in those prices, but $65.99 is the final price with the info you provided.
How do I go about understanding interest rates for home loans online?
Quicken loans is a good place to start. You should always choose the lowest rate and you always want to put down 10 to 15 percent of the cost of the home. In today's real estate market it is best to get a flat rate mortgage and before buying always know what is the most you will be able to pay each month for your mortgage.
How many animals are put down a year because they can't find a home?
3000 are being put down
