Down Payment

Q: Down Payment

What is a down payment? The sum in cash that you can afford to pay at the time of purchase of a home or property. A conventional loan down payment is usually 20% of the sales price, but other types of financing require as little as 3.5% to 15%. Some 0% down programs are also available. A mortgage lender can tell you what types of loans you qualify for.

Category: Home Buyers

Down Payment

What is a down payment?

The sum in cash that you can afford to pay at the time of purchase of a home or property.

A conventional loan down payment is usually 20% of the sales price, but other types of financing require as little as 3.5% to 15%. Some 0% down programs are also available.

A mortgage lender can tell you what types of loans you qualify for.