ARE ALL STATES THE SAME IN REGARD TO AMOUNT OF DOWN PAYMENT IN REGARD TO LOANS ?

For conforming loans, yes as long as all the variables are the same. Owner occupied, second home and investment properties will have different down payment requirements, but state to state, they should be consistent. Once you get into jumbo loans, then things can vary from market to market if it happens to be a declining market.

It doesn't depend upon the state but rather the lenders and loan programs. It's still possible to buy a home without any down payment. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to discuss this with you. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing more than 40 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

Down payment options on conforming loans at low rates tend to be the same fromstate to state, and lender to lender. There are somewhat more variations with jumbo loans since the investors can vary more. Typically no one offers loans requiring less than 10% down, and as you get into large super jumbo loans 20% down. There are options with jumbo loans of having a second loan and thushaving an 80/10/10 loan. In California we are approved to provide down payment grants and assistance when the borrower is qualified. You will be best served by consulting with a competent, experienced Broker or mortgage bank consultant. Maybe speak to at least 2 or 3 to compare.

For the most part, down payment requirements are not state specific. They are program specific.. VA and USDA is 100% financing, FHA is 3.5% down, and Conventional is 5% down.. Rates might be slightly higher or lower from state to state depending on lenders past risk factors, but the difference would be minimal.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

If you check with each State's Housing Agency, they may offer a variety of down payment programs depending on credit, income, etc. Down payment's overall are governed by Loan Programs offered through Fannie Mae, Freddie Mac, FHA, VA, USDA, etc. and those are typically based Nationally, unless your area is considered a declining market and if so, the maximum loan to value (thus down payment), may be more.