Category:
Home Buyers
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.
0 comments