The cash down payment you make is usually 3.5% to 20% of the sales price of the home. In general, the larger the down payment, the lower the monthly payment. Also, additional costs such as private mortgage insurance, can be avoided with a 20% down payment. I can help you determine the situation that benefits you the most.
Important note: Do not forget that you can get a gift for the down payment in most cases from a relative. However, please talk to me before receiving any gifts or transferring money.
Also, note that veterans can purchase a home with no down payment, although some other closing costs have to be paid at closing. Please talk to me about these other costs.
Need Down Payment Assistance?
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Learn about our down payment assistance programs.