Home Buying in Denton>Question Details

Kimbar124, Home Buyer in Denton, TX

Ask a question...how much do you have to put down for a down payment these days?

Asked by Kimbar124, Denton, TX Fri Jun 1, 2012

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5
You need to contact a mortgage broker determine how much you can qualify for. Typically FHA is 3.5% or more .

Contact my office Saturday if you are currently not working with a Realtor happy to assist you start the process

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1 vote Thank Flag Link Fri Jun 1, 2012
There are a couple of different options the minimum down payment for conventional loans is 5%, FHA is 3%, and VA is 0%. There is also a USDA program available for rural areas that is a 0% down program as long as the property is located in a USDA service area. Here is a link where you can check weather a property qualifies for this loan: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

Please let us know if we can assist you in any other way, we would love to help! You can view our website at http://www.teamtiller.com or call (940)300-7705. Follow us on Twitter @teamtiller
0 votes Thank Flag Link Tue Aug 14, 2012
It depends on a lot of different factors such as your credit, reserves, where you buy, how much you buy, etc. Could be 0% down in some places like Little Elm on some houses. That might be under a USDA program.

FHA loans normally require 3.5% down.

Some loans may require 20-50% down payment.

Best way to start is to get prequalified for a loan. Let's see what programs might work for you and go from there.
0 votes Thank Flag Link Sun Jun 3, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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0% for homes identified in rural areas according to census data. Talk to your lender about these areas.

3.5% for FHA up to $271,050 loan amount.
5% for Conventional. Up to $417,000..... more down for low scores and higher loan amounts.

Please reply here or contact me directly with follow up questions.


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0 votes Thank Flag Link Fri Jun 1, 2012
If you don't mind living north of 380 or a little east of Denton then you may be able to put ZERO down on a home. Same goes if you are a vet, but vets can buy anywhere. Otherwise 3.5 % for a FHA or 5% for a conventional loan. Give me a call if you'd like more details. I am an accredited buyer's representative (ABR).
0 votes Thank Flag Link Fri Jun 1, 2012
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