How much down payment?

Asked by Estevancuevas, Whittier, CA Sun Oct 14, 2012

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Diane Mcauley, Agent, CA,
Sun Oct 14, 2012
Hello Estevancuevas, You got your answer and only one other agent in Whittier, answered your question. My lender , if he cant get you qualified , no one cant. I can find you a house in one month or sooner . If i dont come through for you , you are welcomed to go to anyone you like. So call me if you would like to interview myself and my lender at Prudential California Realty off whittier blvd and 1st st. Also call me at 714-618-8031 . look forward to working with you and making your dreams come true. Diane McAuley
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Arnold Pena, Agent, Pico Rivera, CA
Sun Oct 14, 2012
Hi...Arnold here C21 Allstar; the most popular loan right now is the FHA 3.5% down payment of the purchase price. Example: $100,000 sales price is $3,500 down payment. There is also a CHDAP program combined with FHA that helps with 3% down payment assistance...if you qualify, you only have to have 1/2% down payment of the purchase price. Please feel free to call for a no obligation appointment. Arnold /323-228-7386. Thank you!
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Dwayne R. Sa…, Agent, Downey, CA
Sun Oct 14, 2012
Good question! :)

With an FHA purchase loan, you only need 3.5% down payment (3.5% of the purchase price of the home). Conventional purchase loans: some let you put 5%, 10%, 15% or more down payment.

If you can do so without it being too tough on you, a 20% down payment for a conventional type purchase loan will normally waive your having to pay monthly mortgage insurance (PMI).

It depends on your situation, how much money you've saved, price range of home you want , & other factors, such as, will you have enough left in your checking & savings to cover unexpected home repairs or other expenses, a buffer savings for "rainy days" and/or an "emergency fund", etc.

It may help to talk over your options with an experienced loan consultant & realtor, your own financial consultant, trustworthy family / friends, your tax advisor, or some / all of the above, to decide what's best for you!

Please feel free to contact me to discuss the loan options'side of buying a home, & the real estate side. I'd be happy & honored to see if we can help you get what you want within your comfortable, affordable budget.

Sincerely & best,

Dwayne R. Saunders
ERA Yes! Real Estate & Yes! Mortgage
Glendora, CA (562) 213-7171 Cell
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