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What % down do I need to make for an FHA loan?

by kevinbritton775548 from , Washington. Apr 4th 2014 Reply


Kacey Ximines (Ximines)
#17 ranked lender in Maryland - 11 contributions

The minimum down on a FHA loan is 3.5%, this can be a gift, grant or your own funds. For more information you can contact me at 4437420976

Apr 4th 2014
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Mike Silkworth (msilkw_195_870)
#29 ranked lender in Michigan - 531 contributions

FHA requires a 3.5% down payment that can come from your own funds, a gift or an approved Community Second Mortgage (also referred to as a Down Payment Assistance program). Depending on your location, you also may want to ask about a USDA Rural Development loan. Good luck!!

Apr 5th 2014
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Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions

3.50% Kevin. There are also some local state programs in Washington that can help with the down payment. The rate is always higher than a typical FHA loan, but the down payment is less. Usually requires a $1,000 investment from the borrower. I would contact a local loan officer and see what your options are. Best wishes, Sean

Apr 5th 2014
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Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

If you're credit score is 580 or more, I can finance with the minimum down payment of 3.5%. If your score is between 560 and 580, UI require 10% down payment. Please make sure that you speak with an experienced lender who will lay out various options and intelligently discuss the pros and cons of each with you. Your pre-approval should reflect in writing that all financial documents have been reviewed. This will make for less stress and potential issues during the process as well as make it more likely for a seller to accept your offer on the home you want. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson

Apr 7th 2014
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