Is it 10%, 15%, 20%?
2006-09-14 02:34:02 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Those all might be accurate , based on ones credit.
Typically, 20 %.
2006-09-14 02:38:21 · answer #1 · answered by ed 7 · 0⤊ 0⤋
deposit meaning when you write the contract or are you talking downpayment? Most banks will take as little as 3% down plus closing costs. But in the US you will have to pay mortgage insurance (PMI) if you do not put 20% down. you might want to ask your mortgage person about an 80 10 10 mortgage which is actually a first and second mortgage done at the same time to keep you from having to pay the useless PMI insurance.
2006-09-14 09:52:18 · answer #2 · answered by cinderjo 3 · 0⤊ 0⤋
Used to be 2%, now it's not even that locally. Whatever the seller will accept against the possibility that you don't consummate the deal. And they are spending money on the transaction. If you flake out due to no fault of theirs or the property, they deserve that money back
2006-09-14 10:10:56 · answer #3 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
It's 10% here in Australia.
2006-09-14 09:42:48 · answer #4 · answered by wombat2u2004 4 · 0⤊ 0⤋
depends, the bigger deposit you have then the better mortgage rate.
5% is normal in the UK for first time buyers but it's better if you have a bigger deposit.
2006-09-14 09:38:40 · answer #5 · answered by FAQguy 2 · 0⤊ 0⤋