On Auctions where they wlll allow financing you can buy with less than 20%.
FYI - though, the property you are looking at is not the sale price.
If you need more info. or questions regarding financing let me know and good luck to you.
Monthly payments are based on number of things involved.
a) Purchase price of home
b) Amount of downpayment
c) Interest rates
d) Term of loan - number of years 15 , 30 years?
e) Taxes if escrowed
f) Insurance payment if escrowed
Foreclosures are not all purchase at auction, majority are offered via professional real estate agents.
RULE OF THUMB: Never purchase a home direct from following:
Bank, builder, listing agent, seller (FSBO)
Have your own buyers agent who represents you.
Dallas Real Estate Agent â€“ Lynn911