2007-03-16 14:02:59 · 4 answers · asked by KaN 1 in Business & Finance ➔ Renting & Real Estate
States don't require any money down when buying a property, the lender does. How much depends on how good your credit is, how high of an interest rate you are willing to pay, and how much the house is appraised for versus how much you are paying.
2007-03-16 14:09:40 · answer #1 · answered by Brian G 6 · 0⤊ 0⤋
Your question isn't applicable to state laws. This is a question for a mortgage lender. There are lending programs available on a national scale that offer a wide range of zero and low down payment loans. The primary factors are your credit score and how it impacts your interest rate, and interest rates in general. As rates go up, money costs more, and while you may still qualify, minimum credit scores go up too, meaning you will either need to put more down or pay a higher interest rate until you can refinance.
2007-03-20 12:06:01 · answer #2 · answered by Jay S 3 · 0⤊ 0⤋
States do not require a certain amount of money down. Depending on your credit, Mortgage lenders may, however. What state do you live in. I may be able to help you find this out. Send me an email to mgcashin@yahoo.com. I may be able to help you to find out your credit score. This will help determine how much you are able to borrow. It all depends on credit history, and maybe job security. Start by sending an email to me with your question. You'll be surprised at the amount you will be pre-approved for. I hope to be able to qualify you for a $0 down loan.
2007-03-16 18:17:51 · answer #3 · answered by Michael G 2 · 0⤊ 0⤋
No states require a downpayment. That would be lenders.
2007-03-16 14:09:45 · answer #4 · answered by Anonymous · 1⤊ 0⤋