New to the forum? Sign Up Here! Already a member? Please login below.

Forgot your password? Need Help?  
Leanne - October 4th, 2004 2:52 PM

I'm thinking about buying a house in the future. How does a person usually have to put into a downpayment?

S. Rogerson - September 28th, 2004 3:49 PM

10% of the appraised value of the house is the norm for downpayments.

laura palmerston - September 28th, 2004 4:00 PM

Though 10% is the norm keep in mind that the more you put into your downpayment the less you will ultimately pay out in interest.

Reg - September 28th, 2004 6:12 PM

Remember most houses cost over $100,000 so you should have at least $10,000 saved up to put towards your downpayment.

Jackson - October 4th, 2004 2:52 PM

The more you put as downpayment, the lower the interest rates your mortgage broker/lender will give you. I've heard that anything over 20% will give you low interest rates for future payments.

Message:


Please login or register to post on this thread.