The min DEPOSIT is usually about 3% of the offer price. If you mean DOWN PAYMENT that can vary from lender and on the type of terms your loan has.
A deposit is funds a buyer will submit to escrow at the opening of escrow. It tells the seller you are a serious buyer. Your deposit can be lost if you fail to complete the sales transaction due to your fault.
The amount of your deposit is "part of" your down payment. For example if your DOWN PAYMENT is 5000 and you make a deposit of 2000 at the time of opening escrow. You will pay the remaining 3000 of your down payment at closing.
Also, please be mindful you will have closing fees. These can run to about 2-2.5 % of the sales price.
I wish you the very best in your home buying quest!
Kawain Payne, Realtor
Gail Mercedes Cole
please feel free to contact me direct for more information
Your down payment is typically 20% but depends on the type of loan you qualify for.
Susan Bo'ur Realtor