like what percent ?
2007-01-01 00:21:58 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
what percent of total price of a new home.
2007-01-01 00:22:26 · update #1
There are a number of loan programs ranging from 2-20% down. Some may even finance the points and closing costs in with the loan. Mortgage companies look at credit scores, credit history, length of time on your job, among other criteria. You may want to find a mortgage broker who can shop your loan for you and advise you which type of program is best for you. Usually, the more you pay down and higher the points, the lower the interest rate.
2007-01-01 00:32:26 · answer #1 · answered by Flyby 6 · 1⤊ 0⤋
Even with somewhat of a lack of credit history, you may have a 580 credit score which would entitle you to 100% financing meaning no down payment in many cases.
2007-01-01 12:05:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
1st I would need to know what you are putting the down payment on.
A home, 10-20%. 20% would maybe give you some negotiating power on a set interest rate and good loan terms. Either shows some good faith on your behalf.
Its best to have a minimum of 3-6 months of rainy day funds available if you ever need it as well. A person just never knows.
2007-01-01 15:10:11 · answer #3 · answered by HowFuzzyWuzee 6 · 0⤊ 0⤋
Paying your bill is a credit records.....
2007-01-01 11:04:52 · answer #4 · answered by Gypsy Gal 6 · 0⤊ 0⤋