Home Buying in Memphis>Question Details

Smithmikki, Home Buyer in Memphis, TN

How much money do you have to put down for a $10,000 dollar home?

Asked by Smithmikki, Memphis, TN Tue Apr 26, 2011

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5
Escrow deposit - 3% of selling price - I think $500 to $1000 would be a good amount
Down Payment with a loan - Check with your lender to see minimum requirements, usually 20%, depending on type of loan
0 votes Thank Flag Link Wed Apr 27, 2011
$1,000 earnest money, plus show proof of funds.
0 votes Thank Flag Link Wed Apr 27, 2011
$10,000 would be the preferred amount.
0 votes Thank Flag Link Tue Apr 26, 2011
Usually all of it. Few lenders are loaning on amounts that small. Owner financing possible?
0 votes Thank Flag Link Tue Apr 26, 2011
It depends on the type of loan you are applying for and different incenitives....
0 votes Thank Flag Link Tue Apr 26, 2011
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