How much money do I need to put down?

The amount of down payment that is required at the close of escrow depends on the type of financing you are using and your credit profile. FHA typically requires 3.5% while VA loans have programs for zero money down. Conventional loans have down payment requirements of 5-20%.  There are state and community sponsored programs that provide loans or grants for first time home buyers that go toward the your down payment.

Posted in: Buyer FAQ