What is a typical down payment?

Asked by jimgribble, San Francisco, CA Thu Nov 8, 2012

This question was asked from http://www.trulia.com/property/3098755611-3104-25th-St-San-F…

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Oggi Kashi, Agent, San Francisco, CA
Thu Nov 8, 2012
It depends on your situation, the price point and type of loan you end up choosing. You can do the traditional 20% or higher, or go with FHA loans where your down can be as low as 3.5%.

Oggi Kashi
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
Web Reference:  http://www.oggikashi.com
1 vote
Denise Monta…, Agent, San Anselmo, CA
Thu Nov 8, 2012
I have helped buyers get into homes on Marin for 3.5 % down on FHA loans. We were able to close in 30 days. This type of loan requires mortgage insurance. The other viable loan product is the traditional 20% down payment. Interest rates are incredibly low right now.
0 votes
Thu Nov 8, 2012
... Yes... Like someone else said, talk to your lender..

Additionally, in a hot real estate market, anything less than 20% down will be difficult to get accepted. Most buyers in Silicon Valley today have more than 25 or 30% down, especially when many are all-cash investors...

Good luck,

James Ma, Coldwell Banker Saratoga
Dre #01133689
Web Reference:  http://www.jamesma.net
0 votes
Sally Rosenm…, Agent, San Francisco, CA
Thu Nov 8, 2012
You need to talk to lenders. The down payment you can make varies with the type of loan you get. I would talk to Ephraim Schwartz, partner at O'dette Mortgage Group, 415-297-8514 or ephraim@omglenders.com. Or go to my website http://www.sallyrosenman.com and go to Resources and look under Mortgage Brokers for many other excellent contacts.

Good luck,

Sally
Web Reference:  http://www.sallyrosenman.com
0 votes
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