buying a new home: The Home Down Payment Explained
- 08/08/12 03:19 AM
When you buy a house you have to have enough money upfront to put down which is called a down payment. These days putting down at least 20% of the sale price for a down payment is normal. However, there are cases where a person may qualify for 0% down payment, but you must have a credit score range of 700 or over. In addition, those who qualify for Veterans (VA) loans may also get a down payment waver depending on the lender.
Lenders (banks) use the down payment as a safety gauge. There was a study done showing … (0 comments)
When you buy a house you have to have enough money upfront to put down which is called a down payment. These days putting down at least 20% of the sale price for a down payment is normal. However, there are cases where a person may qualify for 0% down payment, but you must have a credit score range of 700 or over. In addition, those who qualify for Veterans (VA) loans may also get a down payment waver depending on the lender.
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