Edith, Other/Just Looking in 95122

if your a first time home buyer how much down payment would you need to be able to get monthly payments of

Asked by Edith, 95122 Wed May 6, 2009

1400 .

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William Fist…, Agent, Cincinnati, OH
Wed May 6, 2009
Edith,
I suggest to the buyers I am working with, to consult with a lender/bank/mortgage provider/credit union, etc, to get preapproved. They will check your credit score, which has a strong influence for what interest rate they will charge you on your home loan. They will also determine if you want a 15 year, 30 year loan, or something else, which will also have a bearing on your monthly payments. The lender will be able to present you with a list of options, and discuss which may be the best for your situation. Hope this helps.
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Dana Schuster, Agent, Slidell, LA
Wed May 6, 2009
It depends on the price of the home. You would need to know what your loan amount is(purchase price_down payment) and can use a mortgage calculator to figure monthly payments. Trulia has one that you could probably adapt to figure this out.
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