Financing in West End>Question Details

Trulia Boston, Home Buyer in Boston, MA

What is the lowest downpayment available for a loan?

Asked by Trulia Boston, Boston, MA Thu Jan 10, 2013

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9
You could get as little as 3% down depend on the type of loan, I would seek out a mortgage professional
0 votes Thank Flag Link Sun Jan 13, 2013
There are options for zero dp but the buyer needs to qualify.

Territory.com
Massachusetts Premier Buyer Brokerage
617 848 5407 x701
Web Reference: http://territory.com/
0 votes Thank Flag Link Sat Jan 12, 2013
ZERO! There is only one loan that I know of that offers such great flexibility and incentive...a VA loan. If you're a Veteran (and thank you for your service) a VA loan is a valuable tool in the home buying process! I just had a client use the product through Kevin Gannon at Wells Fargo, and I was so delighted for the client!
0 votes Thank Flag Link Thu Jan 10, 2013
I agree with Sarah, it all depends on your personal financial situation.

Best Of Luck
0 votes Thank Flag Link Thu Jan 10, 2013
The lowest is 0%. You need to work with an experienced mortgage broker to evaluate your circumstances and determine what you can achieve.
0 votes Thank Flag Link Thu Jan 10, 2013
Depends on the loan and the property type. But for primary homes- VA Loans and USDA Rural Development loans are 0 down. FHA is 3.5%. Conventional is 5%.

If you'd like a no cost look at your options, please contact me. Contact info is at http://www.LendWithScott.com

Regards,
Scott McCauley
Licensed Mortgage Planner
Regency Mortgage Corp.
NMLS # 174108
http://www.LendWithScott.com
0 votes Thank Flag Link Thu Jan 10, 2013
3% for conventional. 3.5% for FHA. 0% if you are a qualified veteran.
0 votes Thank Flag Link Thu Jan 10, 2013
It completely depends on your personal financial situation. There are so many different types of loans...traditional, VA, FHA, MassHousing, etc. There are grants out there for buyers in certain market places, and heck, there are even hard lenders or private financing that can be obtained for the right buyer.
0 votes Thank Flag Link Thu Jan 10, 2013
An FHA loan requires only 3.5% down!
0 votes Thank Flag Link Thu Jan 10, 2013
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