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I want to get a mortgage loan for a condo. How much down is required for a 235,000 listing?

by patrick72 from North Billerica, Massachusetts. Sep 30th 2016 Reply


Robert Oliveira (roberto)
#13 ranked lender in Massachusetts - 87 contributions

Hello it will depend on mortgage program and what you can qualify for min down payment can be 3% for a first time buyer call me for more info 508 802 0935 Rob Oliveira with Rockland Trust email is robertoliveira51@gmail.com

Sep 30th 2016
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,572 contributions

More info needed, but there are programs which require as little as 3% ($235,000 X 3%= $7,050). However, there also closing costs.. and that will vary from one property to the next.. but there is a variety of way to get the costs paid.. seller contributions, lender credits, RE agent credits, etc.. If you really want to know what you qualify for and what to expect, you should try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Sep 30th 2016
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Jericho Cherry (Jerichocherry)
#1 ranked lender in Virginia - 1,107 contributions

William has given you some advice. I suggest you follow it.

Oct 3rd 2016
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