Property Q&A in Las Vegas>Question Details

Nicki, Home Buyer in Las Vegas, NV

What is the lowest percent down payment that a realotor will accept?

Asked by Nicki, Las Vegas, NV Wed Feb 4, 2009

My fiance and I are really interested in buying a house. We have enough money to make the monthly payments, but do not have much for a down payment. So what is the least amount of money a real estate agent will accept in order for us to buy a house? We are looking for a house with a good price and in a decent if not good neighborhood.
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Nicki,

You are more than likely looking at an FHA loan which currently requires a 3.5% downpayment. The downpayment needs to either be your funds, a gift from a family member, or a gift from a non-profit organization that does not receive a direct benefit from giving you the gift.

If you would like to talk with a great lender that works with first time home buyers using FHA loans all of the time, then contact me and I'll get you in touch with him. The best thing to do right now is to talk with a lender and they can pre-qualify you for the loan, and then we can work together to get you the home you are looking for.

Best wishes,

Mike Dobranski, REALTOR®
Keller Williams Realty
Las Vegas / Henderson, NV

702-370-3521
Mike@PrimeRealEstateLasVegas.com
http://www.PrimeRealEstateLasVegas.com
0 votes Thank Flag Link Wed Feb 4, 2009
Hi Nicki
there is a lot of different loan programs and the down payment depends on several factors
first time buyers,credit history etc.my best advice is to get pre-aproved for a loan first
your loan agent can show you all the different programs and help you pick the best one for you.
thanks
0 votes Thank Flag Link Wed Feb 4, 2009
A real estate agent does not determine a down payment. That is something you will determine with your lender. There are programs to help with downpayments especially for first time homebuyers. There are also closing costs but depending on the property you may be able to get the seller to pay some of those costs. A good Realtor will be able to guide you.
Chris Shouse
702-277-3195
Web Reference: http://realsummerlin.com
0 votes Thank Flag Link Wed Feb 4, 2009
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