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How much should I save for a down payment?
- Christin KLv 71 month ago
Anywhere from 15-30% of the sale price of the house you want. It depends on a couple of factors: what sort of mortgage have you applied for is the most important. A VHA or FHA mortgage will require a lower down payment than a conventional, bank-approved mortgage. And it will also depend on what sort of other costs you may have in your offer--such as inspection-dependency or repairs that are obviously needing done.
- Elaine MLv 71 month ago
That generally is 15 to 20% of the selling price.
- MaxiLv 71 month ago
Depends on what you earn and what mortgage you are able to secure... the rest of the costs need to be savings, although at least 10% of the asking price as minimum
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- sunshine_melLv 71 month ago
You'll need at least 10% of the property value, plus sufficient savings to pay for legal fees, taxes / stamp duty as applicable etc
- Rick BLv 71 month ago
Depends. At least 20% if you want to avoid PMI each month. With interest rates exceptionally low, a large downpayment may not make much sense.
Again, these are questions to discuss with your realtor. Get a realtor to represent you and they will help you with all of this. It will cost you NOTHING since the seller pays the realtor fees.
- ?Lv 71 month ago
For a house, at least 20% of the value of the house.
- Citizen AwesomeLv 61 month ago
Down payment on a house? Car? What year was the thing built and what type is it? All of those determine how much you should expect to pay for a DP. Can u come up with that info and repost again?