Down Payment
The amount you have available for a down payment will affect what types of loans for which you can qualify. Down payments typically range from 0 to 20 percent of the sales price for the property. Of course the more money you put down typically the lower your payment will be so it never hurts to have as much money saved up as possible when entering into a real estate sales contract. However, you may qualify to buy a home with a low or no down payment option. Often times finding the right loan program is all about down payment.
No Down Payment Options:
*Down payment and terms shown are for informational purposes only and are not intended as an advertisement or commitment to lend. Not all borrowers will qualify.
WARNING: We document everything these days. Take extra care to document the sources for any monies to be used for the down payment or closing costs.
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Latest Blog Post
Jumbo vs Conventional Loan
JUMBO LOAN VS. CONVENTIONAL: WHAT KALAMAZOO MOVE-UP BUYERS MUST KNOW
Are you shopping for a luxury executive home or a custom build in Texas Township, Portage, or Richland?
Yesterday, a move-up buyer walked into my office after touring a gorgeous five-bedroom home near Texas Corners. The listing sat well above their previous starter home price point, and they were trying to calculate their down payment strategy.
They asked me, “Jeremy, at what price point does our mortgage switch from a standard Conventional loan into a Jumbo loan? Do Jumbo loans require massive 20% cash down payments?”
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