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If you are purchasing for yourself, there are many programs for first time buyers that will allow you to make a 3.5% or lower down payment. If you are an investor, there are a few specialized situations where 5 or 10% down payment is required, but most of the time, you will need 20% If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. I'd be pleased to provide that service. If you appreciate this answer, please give it a thumbs up, or if this was the most helpful answer, please say thanks with a best answer click.
That si a broad question. Depending on the home and the work that is needed there are soem programs out there. One is a FHA rehab loan. here you put 3.5% down and finance the remainder of it plus the costs of repairs into the loan....
Another one is fannie mae renovation laon which allows you to put 3% down and finance the repairs...However; with this program you have to be buying a Fannie mae foreclosure.
both programs require strong credit and take a little while to process the loan through. You woul dhave to be patient and diligent in going through these programs.
Coldwell Banker United
Southern Charm Realty