What is the percent that you have to put down when buying a home?

Answer

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.

Answer

Do 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.

Answer

It 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.

First answer by anonymous. Last edit by anonymous. Question popularity: 158 [recommend question]