Forgotten Your Password?

Need to Register?

Question Icon

Does fha require 20 percent down?

Do i need to put down 20%? by marisol1 from , . Aug 6th 2009 Reply

Jacqueline Clarke (JClarke)
#26 ranked lender in Florida - 5 contributions

The min. down payment for FHA is 3.5%. This money can be a gift from a family member or down payment assistance from a government entity. Most of my clients are first time homebuyers that use down payment assistance towards to their down payment and closing costs. Conventional loans, on the other hand, require a min. down payment of $20%. FHA rates are very competitive and the documentation guidelines gives a borrower wiggle room to explain unusual circumstances that may prevent them from getting a conventional loan. I would be glad to discuss the financing options for your first home. Please feel free to contact me directly 407-739-3853 or via email at jclarke@enterprisemortgagegroup.comHope this helps, Jacqueline ClarkeDown Payment Assistance SpecialistWinter Park, FL

Aug 6th 2009
Subscribe to our news feed.