If someone wanted to buy a 600k home, would would be the expected down payment?
- acermillLv 77 years agoFavorite Answer
Unless such purchase qualifies for a FHA loan, you will face a down payment of about 20%. If you have VERY high and stable income, that might be reduced somewhat. If you can get a FHA loan, the minimum down payment is 3.5% of purchase price, PLUS closing costs.
- I Like TurtlesLv 77 years ago
Usually 20% down is considered standard
- AnonymousLv 77 years ago
$120,000 plus closing costs is what it would take...normally.