---There is no such address as "502 E. Mulkey" in this county! ...However...If you meant "920 E. Mulkey", there is a house for sale at that address. ...Since the asking price is around $100,000, the down payment on an FHA loan would be about $3,500. ...But if you hire a good agent, you will have someone to represent you, and as I always do, the contract price can be negotiated lower than that. ... Do yourself a favor: ~quit asking questions on these websites and engage a Realtor to guide you through the whole process. ...With 34 years of experience in this county, I have helped many first-time home buyers. ...The first step is to sit down and discuss your goals, and then we'll formulate a plan. ...Then we will talk it over to make sure you have everything in order before you submit your loan application to a mortgage company. ...(We don't want them to put a credit report prematurely, because it could lower your score.) ...Once you are pre-qualified for a loan, and only then, we can go look at some houses. ...When you find one that works for your family, I will help you negotiate the best deal on it. ...And after we submit a contract to your chosen loan officer, we will get busy with the inspections and appraisal. ~~~I will make sure there are no surprises during your transaction, and we will go to closing together. ....Contact me if you have any questions about the process. ***Rick DeVoss...ULTRA Real Estate Services*** ...817-300-6121...WholeLife@Yahoo.com ===
Obviously it all depends on what type of mortgage you qualify for.
FHA requires 3.5% dn & Conventional requires 5% dn. If you're a veteran, you pay nothing down except the part of the closing costs the seller will not pay.
And if this an investment for you, most lenders require 20% dn.
Give me a call/email so we can discuss this further. I'm here to help.
Arthur Garcia III
I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home and obtain a mortgage without getting ripped off. Follow the link below.
Best of luck!