Property Q&A in Sutton Place>Question Details

Jeanea, Home Buyer in Garland, TX

WHAT IS THE MINIMAL DOEN PAYMENT YOU ARE ASKING FOR THIS HOUSE?

Asked by Jeanea, Garland, TX Sun Jul 15, 2012

I HAVE LOOK THE HOUSE FOR A WHILE. I SEE THAT IT HAS NOT GONE ANY WHERE HOW MUCH ARE ASKING FOR A DOWN PAYMENT

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This question is about this property: http://www.trulia.com/property/1044146942-1709-Park-Cir-Garl…

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5
Jeanea.
The minimum down payment that you need for purchasing a home like this is $1600 if we are looking for FHA type loan. Now there are some HUD properties that you can go with only $100 down payment program. If you wish to obtain homes that can qualify for an FHA loan, let us know so we can help.
0 votes Thank Flag Link Mon Jul 16, 2012
Who is your Lender?

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Hunt Holdridge
HUNTAHOME, LLC
Office: (214) 866-0050
Mobile: (214) 457-1639
Email: hunt@huntahome.com
Web: http://www.HUNTAHOME.com
0 votes Thank Flag Link Mon Jul 16, 2012
Unless you are a veteran with VA eligibility, you would want to apply for an FHA loan with 3.5% down. You and the property would need to qualify, based on credit, income, sufficient funds to close from an allowable source, and an appraisal for the sales price and no more repairs than the seller would be willing to make prior to closing. I suggest you ask your Realtor for a referral to a good and LOCAL licensed loan officer.
Barbara Coker
NMLS#228545
100% Home Loans All Over Texas!
Web Reference: http://www.thecokerteam.com
0 votes Thank Flag Link Mon Jul 16, 2012
Hi jeanea,

This will depends on what loan program you use. There is conventional, FHA an va loans out there. In general 5 percent downpayment is the most common but it could be up to 10-15 percent.

I can prefer you to my lender to get you pre approval. This way you can make an offer on the house. You must really like it since you been looking at it. Don't let it slip away!

You can email me at dixondfw@gmail.com

Thanks

Dixon
Realtor
JP and associate
Dixondfw@gmail.com
Findyourtexashome.com
0 votes Thank Flag Link Sun Jul 15, 2012
Down payment IS NEVER "ruled by the owner" it is your lender who makes those requirements. Your mortgage broker is the expert to direct all your questions too

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

Follow me on Facebook
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0 votes Thank Flag Link Sun Jul 15, 2012
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