Notifications
Clear all
General Chat
2
Posts
2
Users
0
Reactions
37
Views
Topic starter
What is the down payment requirement for a mortgage?
Posted : 28/04/2024 2:16 pm
Down payments for mortgages can range from 3% to 20% of the purchase price, with the average first-time homebuyer paying 6% ¹. Some mortgage types have different down payment requirements, such as ²:
Conventional loan: 5% or 3% down payment
Federal Housing Administration (FHA) loan: 3.5% down payment
VA loan: no down payment
USDA loan: no down payment
Posted : 30/04/2024 9:15 pm