How much do I have to put down on a home costing $99000 ?

Asked by George Trumbull, Big Bear City, CA Sat Feb 11, 2012

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Kevin and Ju…, Agent, Wildomar, CA
Sat Feb 11, 2012
Hi George,

There are too many variables to list - We typically recommend that buyers visit with the mortgage professional at the bank or credit union where they have their checking account.

Best of luck to you!
2 votes
Robert Chome…, , San Diego, CA
Mon Aug 6, 2012
If VA eligible zero down. Non VA 3% is lowest which is $2,970.
0 votes
Tina Schmitt, Agent, Big Bear Lake, CA
Mon Aug 6, 2012
It depends on the type of loan you can qualify for. Some loans actually will allow you no money down.
0 votes
, ,
Thu Feb 16, 2012
We would require yout to put down $3500, if the seller will pay your closing costs, that is all you would need.
0 votes
Terry McCarl…, Agent, Cape Coral, FL
Sat Feb 11, 2012
Speak with a lender regarding this - only lenders can really answer this question for you.
0 votes
Ulises Gutie…, , Torrance, CA
Sat Feb 11, 2012
It could be Zero down (VA Loan), 3.5% down (FHA loan), or 5% - 20% down on a conventional loan. It all depends on which one you qualify for & also on which one is a better fit for you.

You need to sit down & talk to a Senior Loan Officer. Please call me & I can refer you to one that will put your best interest at heart. There is no commitment on your part until you are ready.

Have a wonderful day.


Ulises P. Gutierrez
Shorewood Realtors
Office (310) 316-8464 x. 318
Cell (310) 561-7774
Fax (310) 316-8573
DRE license # 01881360

For all your Real Estate Needs.... Before, During & Beyond the Transaction!
0 votes
Steve Hirsch…, Agent, Big Bear Lake, CA
Sat Feb 11, 2012
There are lots of variables. Are you buying a second home or primary residence? Do you have a lender that you are working with already? Is the home a bank owned or Fannie Mae? All of these items will determine what you will need to put down on your purchase. I live and work in the Big Bear area, feel free to contact me with your questions.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sat Feb 11, 2012
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously; therefore if you haven't done so yet, visit with any licensed loan officer; the amount down will depend on the type of loan. Fha loans require 3.5% down....
0 votes
Moy Lopez, Mortgage Broker Or Lender, Quincy, MA
Sat Feb 11, 2012
It depends on the program you plan to use. If you are a veteran and eligible for a VA Guaranteed loan then you will not have to put anything down. If you plan to use a FHA loan you will be asked to put $ 3500 down or 3.5% of the purchase price. If you qualify and are going for a FNMA loan you might be asked to put 3% to 5% down. You might have local grant programs that might assist you with the down payment. Speak with a local real estate agent.
0 votes
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