2007-05-17 17:51:27 · 4 answers · asked by Ricardo R 1 in Business & Finance ➔ Renting & Real Estate
If rent is $775, M I P T will be less than that hopefully, but assume MI of $600, and at 6% that would be about a 100k house.
10% down would be 10k.
2007-05-17 18:08:22 · answer #1 · answered by Rockies VM 6 · 0⤊ 0⤋
Depending on your credit & income it may not be necessary for you to make a down payment. Talk to a real estate agent about prices in the area that you are renting, take that figure at multiply by 5% if you plan on making a 5% down payment.
Again, you may be able to qualify for 100% financing.
2007-05-17 18:03:02 · answer #2 · answered by Miss Emily1 3 · 0⤊ 0⤋
Down payment to purchase a house is 10% of the agreed purchase/sell price.
2007-05-17 18:10:55 · answer #3 · answered by SGElite 7 · 0⤊ 0⤋
down payment is determined by the cost of the house. no less than 10% down
2007-05-17 18:02:18 · answer #4 · answered by oldguy 6 · 0⤊ 0⤋