Home Buying in Havertown>Question Details

s.rinier, Home Buyer in Havertown, PA

What kind of rate would I get if I put under 2K down on a $450K home?

Asked by s.rinier, Havertown, PA Tue Dec 11, 2012

This question was asked from this property: http://www.trulia.com/property/3096027955-1438-Virginia-Ave-…

Help the community by answering this question:


Rates will always vary based on several criteria. FHA loans have a minimal 3.5% down requirement, but they also have a maximum loan amount of $417k. There are Conventional programs but they would require different down payment options. The best idea is to call our Team at 610-848-6222 and we will put you in touch with a lender that can answer all of your questions, all Free of charge and with zero obligation! Thank you for the Question! MGT
0 votes Thank Flag Link Tue Dec 11, 2012
P.S. Please excuse the few mistakes due to cell phone typing. Carmelle
0 votes Thank Flag Link Tue Dec 18, 2012
Hi- my name is Carmelle Jean-Paul and I am a real estate agent with Century 21 Absolute Realty. I would like for you to give me a call so that we can discuss how we can get you into a similar hone of your dreams when the time is right. Please just give me a call so you can hear what I have to say and how I can specifically help you. I am a licensed agent and REALTOR. If yiu prefer, you can also feel free to email me. I can be reached at 215-900-6656 or carmelle.jeanpaul@century21.com

Carmelle Jean-Paul
Century 21 Absolute Realty
512 Baltimore Pike
Springfield, PA 19064
215-900-6656 (cell)
610-328-4300ext.130 (office)
0 votes Thank Flag Link Tue Dec 18, 2012

As the other posters have already pointed out, only putting $2000 (or less) down on this property is not an option. Frankly, even if you could secure financing under those terms, I strongly doubt that the seller would accept a good faith deposit that small.

I recommend speaking with a lender that you feel comfortable with and exploring all of your options. I would be happy to make a recommendation to you privately.

Warmest regards,

Joshua Stein, REALTOR®
Coldwell Banker Preferred – Conshohocken

Office:(610) 828-9558 * Cell:(215) 866-8030
Direct:(484) 270-1165 * Fax: (215) 999-5894
Email: jstein@cbpref.com
Web: http://www.joshuasteinhomes.com

PA License #RS317975
0 votes Thank Flag Link Tue Dec 11, 2012
@ S. Rinier. Contact my office. There is never any pressure. I just want to see if we can get you in that home or something similar. I will answer all of your questions. Thank you again for the question! MGT
0 votes Thank Flag Link Tue Dec 11, 2012
Thank you all. @ Marc Giosa ... My wife and I are IN LOVE w/ 1438 Virginia!
0 votes Thank Flag Link Tue Dec 11, 2012
As the others have said with only 2k down you won't be able to get a loan on a 450k home. I highly recommend you speak with a lender so you know how much cash on hand you will need to buy a home in whatever price range you qualify for.
0 votes Thank Flag Link Tue Dec 11, 2012
Forget about the rate - even if you could get a traditional loan with such a small "down payment" (it's not going to happen) .....I'd have to ask you............ what kind of income do you have, or that you think you would need, that would qualify you for a mortgage of 448,000? IN addition - what do your credit scores look like?
0 votes Thank Flag Link Tue Dec 11, 2012
That is not even a 1/2% down - I doubt you could even get a loan with that.

Have you spoken with a lender at all about this? Do that first and get some answers.
0 votes Thank Flag Link Tue Dec 11, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer