How much down fo I need for a $200,000.00.Home

How much your down payment would be depends on the type of loan that you are getting. I would be happy to put you in contact with some lenders that I have worked with in the past. I would love to be your dedicated Realtor. Feel free to contact me. Mandi Ford, Realtor with Fathom Realty. 832-926-2535 aford@fathomrealty.com

Are you sure you need answer for this, as you are Realtor and had closed so many homes? Just don't understand.

It depends on a few things. It could depend on:
• Your lender
• The type of loan you have (FHA, VA, Conventional)
• The amount of interest and insurance premium you’ll have to pay
Work with a Realtor who has connections with various mortgage lenders.

Depends on loan type and credit score.

FHA (580+ FICO) - 3.5% down
Conventional - 3-20% down
USDA - $0 down
VA - $0 down

Keep in mind $0 down does not mean $0 out of pocket.

Hello Margarita,

It will definitely the loan type you qualify for... but here is a breakdown of the different loan types and the standard down payments you could expect. Remember that in order to get qualified it will depend on the lender and their minimal credit score as well as debt to income ratio requirements.

VA Loans: Depending on the Veteran and the percentage of VA Benefits they qualify for you can expect to bring as little as nothing down for down-payment (this does not include normal closing costs) and as much as 3.5%

FHA Loans: A standard FHA Down-Payment is 3.5%. These loans are generally for First Time Home Buyers or with purchasers that have minimal to average credit scores.

Conventional Loans: These usually run either 3% or 20% down depending on the purchaser. These loans are generally for those that are experienced int he home purchasing process and or have really good credit scores.

So to answer your question, the down-payment of a home purchase of 200,000 you would expect to bring 3%-20% down or $6,000 - $40,000.

Now if you will be getting and FHA Loan also ask you lender if they offer any DPAs (Down Payment Assistance Programs). I have a lender that can get up to 5% DPA for FHA Loans. Now it is good to note that there will also be other expenses such as some title expenses, lender fees, and prorated taxes that are expected by the buyer at closing as well. However be sure to ask you Realtor about any seller concessions that y'all may be able to get with any offers you submit.

With the right lender/realtor combo you can really bring as minimal as possible to the table, especially if you are qualifying for an FHA or VA loan :)

Hope this answers your question :)

It all depends on your lender and the right option fit for you. I had clients with as low as a 0% down on a convectional loan. Some on FHA with 3.5% down. Some on 5% down on a traditional 30/year fixed conventional loan. As well as some clients with 10% to 20% down because it was a second home for them. Point being, depending on your situation I am sure the right lender can find the right loan for you.

Hi Margarita!

As someone said earlier, this is a lender question. It depends on the house, the lender, and the product they think is best for you and your financial situation. I've seen clients buy a new construction around $200,000 and they only paid $500 at closing because of the incentives the builder was offering. I had a pair of teachers get into a resale home with $0 down payment.

If you are looking for low down payment options, please let me know. I work with lenders who offer these kinds of products. You can click on my name to find my contact info. Best of luck!

This is a lender question. Are you using a VA loan? If so, 0%. Some conventional loans are 0%. Some lenders will give you a loan if your DTI is terrible and your credit score is bad but you have to put 20% down. Lots of variables.

A good rule of thumb is 20%. For an answer more specific, I recommend that you contact a lender and discuss what loan types you are eligible to utilize. I hope this helps. :)

Your question how much right? Well it depends on many things some builders may have a promotion at the time of purchase and may offer some type of builder credits. You should first think about are you looking to buy a new home or a older home? Please keep in mind there are down payment programs that will help some buyers with their down payment. This is my area working with new home buyers and getting them the best deals. If you apply for a FHA loan it will be 3%.
I would love help you and any other buyer trying to purchase a home in Texas. Please call Anthony Taylor Realty for your new home purchase. If you like me as your broker to help you just call me and ask for Anthony Taylor Sr. If you would like one of my real estate agents to help we can make it happen as well. I would like to earn all of your future real estate business.
Thanks
Anthony Taylor Sr
Anthony Taylor Realty
281-948-8839
www.anthonytaylorrealty.com

Hi Margarita!
As other posts commented, you need 3%-to-5% down with good credit. It can also be 0% dow if the home qualifies for a USDA loan. Is always good to have at least $10K in savings destined to buy a home, specially if is your first home. Once you buy the first one, the money to buy your future homes come from the equity. Equity is the $$ difference between the market value of your home and the amount you owe the lender who holds the mortgage

Hi Margarita Flores do you have a lender?
Do you plan on buying a new home?
There are many different incentives that our offered by builders ,call 281-546-3844 if you have any more questions.

Hi,

At minimum, you need 3.5% for an FHA loan and 3% down conventional loan (if your credit score is good).
Thank you,

Yvonne Chauvin- REALTOR®
Better Homes & Gardens Real Estate Gary Greene
YvonneChauvin@yvonnechauvin.com
Cell: 281-686-0143

Have you found your home? There are many variables that are taken into consideration when your loan officer is determining a loan program that fits your current financial liabilities (current debt, income, assets, stocks, 401K’s plus many more). Let me know if I can be of assistance with your new home purchase.