Home Buying in Big Bear City>Question Details

George Trumb…, Home Buyer in Big Bear City, CA

How much do I have to put down on a home costing $99000 ?

Asked by George Trumbull, Big Bear City, CA Sat Feb 11, 2012

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Answers

9
Hi George,

There are too many variables to list - We typically recommend that buyers visit with the mortgage professional at the bank or credit union where they have their checking account.

Best of luck to you!
2 votes Thank Flag Link Sat Feb 11, 2012
If VA eligible zero down. Non VA 3% is lowest which is $2,970.
0 votes Thank Flag Link Mon Aug 6, 2012
It depends on the type of loan you can qualify for. Some loans actually will allow you no money down.
0 votes Thank Flag Link Mon Aug 6, 2012
We would require yout to put down $3500, if the seller will pay your closing costs, that is all you would need.
0 votes Thank Flag Link Thu Feb 16, 2012
Speak with a lender regarding this - only lenders can really answer this question for you.
0 votes Thank Flag Link Sat Feb 11, 2012
It could be Zero down (VA Loan), 3.5% down (FHA loan), or 5% - 20% down on a conventional loan. It all depends on which one you qualify for & also on which one is a better fit for you.

You need to sit down & talk to a Senior Loan Officer. Please call me & I can refer you to one that will put your best interest at heart. There is no commitment on your part until you are ready.

Have a wonderful day.

Sincerely,

Ulises P. Gutierrez
Shorewood Realtors
Office (310) 316-8464 x. 318
Cell (310) 561-7774
Fax (310) 316-8573
website: http://www.uly.listingbook.com
email: ulises.gutierrez@shorewood.com
DRE license # 01881360

For all your Real Estate Needs.... Before, During & Beyond the Transaction!
0 votes Thank Flag Link Sat Feb 11, 2012
George,
There are lots of variables. Are you buying a second home or primary residence? Do you have a lender that you are working with already? Is the home a bank owned or Fannie Mae? All of these items will determine what you will need to put down on your purchase. I live and work in the Big Bear area, feel free to contact me with your questions.
0 votes Thank Flag Link Sat Feb 11, 2012
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously; therefore if you haven't done so yet, visit with any licensed loan officer; the amount down will depend on the type of loan. Fha loans require 3.5% down....
0 votes Thank Flag Link Sat Feb 11, 2012
It depends on the program you plan to use. If you are a veteran and eligible for a VA Guaranteed loan then you will not have to put anything down. If you plan to use a FHA loan you will be asked to put $ 3500 down or 3.5% of the purchase price. If you qualify and are going for a FNMA loan you might be asked to put 3% to 5% down. You might have local grant programs that might assist you with the down payment. Speak with a local real estate agent.
0 votes Thank Flag Link Sat Feb 11, 2012
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