Market Conditions in Mission>Question Details

jimgribble, Home Buyer in San Francisco, CA

What is a typical down payment?

Asked by jimgribble, San Francisco, CA Thu Nov 8, 2012

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It depends on your situation, the price point and type of loan you end up choosing. You can do the traditional 20% or higher, or go with FHA loans where your down can be as low as 3.5%.

Oggi Kashi
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
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1 vote Thank Flag Link Thu Nov 8, 2012
I have helped buyers get into homes on Marin for 3.5 % down on FHA loans. We were able to close in 30 days. This type of loan requires mortgage insurance. The other viable loan product is the traditional 20% down payment. Interest rates are incredibly low right now.
0 votes Thank Flag Link Thu Nov 8, 2012
... Yes... Like someone else said, talk to your lender..

Additionally, in a hot real estate market, anything less than 20% down will be difficult to get accepted. Most buyers in Silicon Valley today have more than 25 or 30% down, especially when many are all-cash investors...

Good luck,

James Ma, Coldwell Banker Saratoga
Dre #01133689
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0 votes Thank Flag Link Thu Nov 8, 2012
You need to talk to lenders. The down payment you can make varies with the type of loan you get. I would talk to Ephraim Schwartz, partner at O'dette Mortgage Group, 415-297-8514 or Or go to my website and go to Resources and look under Mortgage Brokers for many other excellent contacts.

Good luck,

0 votes Thank Flag Link Thu Nov 8, 2012
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