What is the down payment on this house my email address is: yashiviag@yahoo.com

Asked by yashiviag, Columbia, SC Thu Sep 20, 2012

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This question is about this property: http://www.trulia.com/property/3092228624-460-Guard-Tower-Ln…

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jason cameron, Agent, lexington, SC
Fri Sep 21, 2012
if you can get FHA loan, that will be 3.5% down payment, 165,000x3.5%=$5,775.

If you get regular conventional loan, that is 5% down payment, that is $8,250.

But if your credit score is higher than 680, some banks can provide 100%. your down payment will be zero.

You can email me and I can send you the lender's contact information
0 votes
Gena Banks, Agent, Columbia, SC
Fri Sep 21, 2012
It depends on what type of loan that you are interested in. If interested in the lowest down payment possible, then a FHA Loan is most likely the best option which requires a 3.5% down payment. I have several loan officers that I work with that I can refer you to answer your question more precisely.
0 votes
Julie Smith, Agent, Columbia, SC
Fri Sep 21, 2012
Most homes a minimum down payment is 3 1/2 percent of the purchase price. If you qualify there are special programs to assist with down payment. There are possibilities for some beautiful properties to purchase for no money down. Call or e-mail me to discuss.

Julie Smith, Realtor ABR, SFR
Keller Williams
803-476-6450
jsmithrealtor@gmail.com
0 votes
Page Latham, Agent, Columbia, SC
Fri Sep 21, 2012
Yashiviag,

The minimum down payment required depends on the type of loan you get. If you are getting a conventional loan, the requireed minimum downpayment is 5% of the sales price ($8,250). If you are getting an FHA loan, the required minimum down payment is 3.5% of the sales price ($5,775). You can always put more down. If you can put down 20% of the loan, you wil not have to pay the monthly mortgage insurance to the bank, saving you $120-150/month.

Page Latham
Real Estate Professional
Russell and Jeffcoat Real Estate
Web Reference:  http://www.pagelatham.com
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