Monticello, as well as the entire Lawrence County, is eligible for USDA financing, which is 100% financing and can even include your closing costs (if the home appraises higher than the purchase price).
I would pose this question to at least three lenders so you will have a few options to choose from. There are so many variables such as your income, credit score, state and federally funded programs that you may or may not be eligible for, and where the property is located can also play a factor. Only a lender can give you a solid answer on this once they have gathered the necessary information from you.
Depends on the type of financing. As Jeremy says, 3.5% in many cases. For veterans, or in some other cases, you may be able to get 100% financing. And on a house priced at that point, don't overlook owner financing. It's all negotiable, but you might be able to get a really good deal that way, too.
Currently FHA has the least amount required down, and that would be 3.5%. There are available programs for first time home buyers and it can vary from state to state and city to city. I would recommend you check with the city to see what programs are available. You should also check with either your bank or credit union, or a reputable lender, to see what they can do to help assist you.
If you can get Financing on something this low, then as a first time buyer you are looking at:
Possibly nothing Down if it qualifies for USDA
$1950.00 if FHA qualified
$6000.00 for a 10%down Conventional
$12,000.00for for a 20$ down Conventional
$60,000.00 for a full out cash sale + Closing costs!
Check you State and County Governments for possible First time buyer assistance programs and programs for down payment assistance!
That depends on your strength as a buyer. Most commonly, the best down payment options will be available through FHA loans, which will be 3.5% of the sales price. However, VA loans still offer 100% financing.