How Much Do You Need for A Down Payment?

How much do you actually need for a down payment? Today I’ll answer this common question.

How much money will you need to put down in order to purchase a home? Do you really need 20% down?

My answer to this question is no, you don’t need to put 20% down—unless you want to pay for private mortgage insurance! PMI simply protects the lender against loss should you default on the loan. In total, you should only need 3% to 5% of the purchase price of the home for a down payment.

If you have any questions about buying a home or real estate in general, don’t hesitate to reach out to me. I’d love to hear from you.

Post a Comment

From Our Blog

Posts By Category

All Categories Buying a Home (7) Colleyville Guide (1) Communities Of Fort Worth, Tx (1) Coventry Place Estate (1) Featured Properties (3) Fort Worth (5) Grapevine (1) Haslet Heights (1) Keller (12) North Richland Hills (3) Other Real Estate Tips (2) Selling Your Home (7) Southlake Guide (1) Trophy Club (1)

Posts By Month

Tag Cloud

Grab Our RSS Feed