Home Buying in Venus>Question Details

bennyhaist, Home Buyer in Venus, TX

Is 5% enough to put down on a $76,000. my girlfriend and I found a great house cheap and want to get it before its gone.

Asked by bennyhaist, Venus, TX Wed Mar 6, 2013

since we didnt get to plan for buying a house we have not had the opportunity to save the 20%. together we make around 57k a year. both have credit scores above 660

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Answers

3
Yes, 5% is enough...give me a call :)

K.C. Jones
Gold Financial
214-432-0486
kjones@goldfinancial.com

Apply online now: http://www.goldprequal.com/kjones
0 votes Thank Flag Link Fri Aug 2, 2013
5% down for a conventional loan, or you can get an FHA Loan for 3.5% down, if the home qualifies for FHA financing, remember that, down payment and closing costs are two different things. You would need to get a good faith estimate from a lender to know exactly what your cash to close requirements will be, sellers can pay up to 6% of the sales price towards buyers closing costs for Conventional and FHA loans, as long as this is agreed on, and part of your contract to purchase the home.
Credit scores and income look ok depending on your long term debt. I would suggest you call Betsy Feroli at West Star Mortgage in Burleson, she can get you pre qualified over the phone in about 10 minutes. Her number is 817-622-9163
0 votes Thank Flag Link Fri Aug 2, 2013
Yes, 5% is enough...... We have loan programs for as little as 3.5% down.
And the scores are within program guidelines.
Apply with confidence.


Tom Burris
Mortgage Banker
http://www.servicefirstmckinney.com/
(214) 763-4629 cell/text/nights/weekends(Really!!)
tburris@servicefirstmtg.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes Thank Flag Link Wed Mar 6, 2013
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