what is the percentage down payment for a house

 · 3.5% Down. For an FHA loan, the minimum down payment you would need to buy a home is 3.5% down. Most lenders can lend up to $417,000 with the exception of Alaska, Hawaii and Guam. An FHA loan comes with a monthly mortgage insurance payment, which can make it more expensive than a conventional mortgage.

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 · For VA, you need to be a veteran; while USDA is only for rural properties. That makes FHA the most common low down payment loan with 3.5% down payment. However, starting this year (2016) conforming loans (backed by Fannie Mae and Freddie Mac) offer 3% down payment for loan amount up to $417,00 for first time home buyers.

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However, this doesn’t influence our evaluations. Our opinions are our own. If you want to become a homeowner, but you don’t have enough cash for a down payment, a state or local down payment.

So after eight years of 3, 3.5 and 4 percent mortgage. that buying a $700,000 house with a higher mortgage rate means hundreds of extra dollars in monthly payments and an allocation of a ton more.

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A 20-percent down payment on a house is a lot of money, no question about it. If you have to make a 20-percent down payment on a $250,000 house, that means coming up with $50,000. Many lenders will have no problem giving you a mortgage with a down payment of as little as 5 percent – or just 3.5 percent for a FHA loan (if you qualify) and some.

A down payment is the amount of cash you put toward the purchase of a home. It may be expressed as a percentage. For instance, it usually takes a 20 percent down payment to buy a home without private mortgage insurance. It may also be expressed as a dollar amount. As.

Minimum down payments. Most mortgage lenders require a down payment of at least 3 percent. fha loans (mortgages insured by the Federal Housing Administration) require a down payment of at least 3.5 percent. Depending on your credit history, the type of dwelling and your reason for buying, the minimum down payment could be 5 percent, 10 percent,

 · There may be some portfolio loans out there that will take a lower credit score but the interest rate will be quite a bit higher than the going rate and.