In the current economic climate, what is the typical down payment percentage needed to secure a home loan?

Answers:1   |   LastUpdateAt:2012-09-19 13:54:02  

Question
Michael Rondo
Asked at 2012-09-17 03:38:03
We are now debating when to buy a new house . We deal with a reputable lender to get a fixed rate loan . What is the payment standard acceptable? For example : if you want to buy a home worth $ 175,000 , which would be a down payment required. In addition , we would like to keep the monthly payment under $ 1000 a month if possible.
Answer1stefAnswered at 2012-09-19 13:54:02
3.5% down with FHA and good credit ( $ 6,125 down) MedlinePlus With interest rates at 4.22 % on a 30 year fixed : MedlinePlus PMI and property taxes added to the monthly fee : MedlinePlus $ 1010.09
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