What is the best down payment on a home?

Real Estate Agent with Keller Williams Sonoran Living SA572600000

If you are contemplating buying a home in Phoenix, you might have some questions about the down payment, and where to find the money for one, at the lowest cost to you.

Ask your Agent if they know about any housing incentives, grants or loans, but be careful.Some options can have serious consequences in terms of taxes and penalties, so be sure to do your homework.

Here are some ideas for pulling together the money you need for a down payment:

  •        Pull from savings
  •        Liquidate some assets
  •        Sell some stock
  •        You could put 10% down of your own money, and pay private mortgage insurance
  •        20% down with the help of a 10% family loan or gift
  •        Borrow 10% from your 401(k)
  •        Ask your employer – some corporations , universities and local governments have programs to help    with down payments
  •        Grants and loans from the government
  •        Seller financing

There are pros and cons to all of these options, but at the end of the day, a family gift or loan is your best option.


It’s a great time to buy in Phoenix and I am an experienced Phoenix REALTOR®, who can help you find the home of your dreams.Let’s talk about what down payment option is best for you, and discuss what neighborhood you would like to live in.Take a look at what we have currently and if the perfect property isn’t there you can search the entire MLS on the “Search” page of this site.

Give me a call (602) 799-5239, or send me an email and we can discuss which option is best for you.


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Kathy Stoltman
Rockwood Realty - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

Debbie, this is a great post which should be very helpful for buyers thinking of buying there first home.

Feb 19, 2013 08:51 AM #1
Debbie Nieman

Thank you Kathy- that's what we're all about- helping our clients understand the process and make it easier for them.


Appreciate you recognizing that!



Feb 19, 2013 10:44 AM #2
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Debbie Nieman

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