it depends on the type of loan you are applying for... if you are applying for FHA loan, then you require only 3.5% down, for conventional loan, you may require 20% depending on your credit score...

Carroll:

Probably in the neighborhood of $55,000 annual +/-. Depending on term, rate, downpayment and cash available for closing costs it could require more or less. It is probably best to get qualified with a mortgage banker. Find Sally Hamby here on Trulia. She will give the information you need for for EACH of the loan choices available.

Best of luck,
Mike Pennington

Like Peter said, it depends on what kind of loan you are getting. FHA is 3.5%, VA can sometimes get 100% and Conventional usually is around 20% down, but that might depend on your credit, it could be more. At that price point, FHA is a better option for you than Conventional, obviously. I have a wonderful lender who has helped (and is currently helping) many of my clients to be able ready to make that move. He can get you prequalified and ready to go!!! Call him and see what you think: Bob LeMoine with Community Mortgage: 770-410-4950 or 678-488-4529. Tell him I sent you. :)

Jodi Smith
Atlanta Real Estate Agent
Keller Williams Realty Consultants – Roswell, Georgia
678-763-6025
jodismith@kw.com
Tweet Me: http://twitter.com/JodiRSmith
http://positiverealestateprofessionals.com/jodismith/

It depends! If you qualify for a VA loan you might be able to get 100% financing. FHA loans usually require 3.5% down. There are also local communities still offering Down Payment Assistance programs as well. Let me know if I can help further.