Certainly varies based on the borrower, income, credit and type of loan - as well as location of the house. Can be as low as $0 with a USDA loan, 3.5% on an FHA loan - and there are other programs available. I'd be happy to help explain it to you.
Seth Koppel, Realtor and Broker/Owner of TexHomes Realty
They can tell you what your price range will be also make sure you get a pre-qualify letter. This will save one step when you are ready to present your offer. Good luck & all the best.
Betina Foreman- Realtor, C.N.E.
Austin Home Girls Realty
1601 West 6th Street
Austin, TX 78703
Your Local Mortgage Banker can discuss with you minimum down payments based on the type of loan programs/products you are qualified for. Here's the timeline I recommend to HomeBuyers:
1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.
3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!
I hope that you had a great weekend. My name is Javier Reyes. I am a Keller Williams Realtor. I happen to be currently selling a home for one of your neighbors in Windsor Park.
As you have heard it is possible to put down as little as 0% with the use of some programs. Or as much as 20% to avoid financial insurance fees.
The next step is to choose a Professional Realtor whom will help you understand the Pros and Cons of these different options.
Call us @ 512-636-5351 or email us at; Javier@JavierReyesRealtor.com
As you have heard, you can do 3.5% with an FHA loan. There are also many first time home buyer programs. Are you an educator?
Please feel free to contact me anytime. I would be happy to help you with finding the right lender and loan program, do a price analysis on any home, and show you only homes that meet your criteria. Buying a home is exciting, and I would be happy to facilitate the entire process at no cost to you.
Please feel free to contact me and I will put you in touch with one of these lenders, and they will not charge you anything for preapproval, nor will I charge you anything for excellent, professional buyer representation. I happen to be one of the top rated buyers agents in Austin and would be happy to assist you!!
Joe Jarusinsky, Realtor/Master Instructor
Keller Williams Realty, 512-261-4415
Are you going to buy your first house? That's so Exciting! I remember when I bought my first house for my wife and I. I didn't know anything.
Everything seemed so scary and official, but really it was pretty easy.
There are lots of different programs for first time home buyers. Really, there are too many for me to talk about here. It's best if we maybe grab a coffee and chat about what kind of house you are looking for, and discuss the different financing programs together.
If you have some time, give me a call and I'll do my best to help.
Cheers, and congratulations
That all depends on what your goals are and what you are comfoortable with paying both as a down payment and as a total monthly payment. As a general rule, the more down, the leas your monthly payment. While some types of loans will let you get away with $0 down (USDA for example), expect the pay 3.5% of the purchase price for FHA loans and more for conventional.
Feel free to call or email and discuss further.
Feel free to contact me if you'd like to find homes in the USDA eligible areas - or any area. I specialize in the North Austin/RR/PF and Cedar Park areas - and I love working with first time home buyers! 512-788-3698 or firstname.lastname@example.org.
Real Estate Broke
AVALAR AUSTIN REAL ESTATE
ABR, ASP, CLHMS, CRS, ePRO, GRI, SRS
There are several answers to this question depending on your current financial situation. The average down payment is 10% although there are programs which allow lower down payments. FHA are 3.5% down while others are 0% down with down payment assistance programs. If you have any questions, feel free to give me a call or shoot me an email.
Fine Austin Living