Kris asked in Business & FinanceInsurance · 7 years ago

If someone wanted to buy a 600k home, would would be the expected down payment?

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  • 7 years ago
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    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.

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  • 7 years ago

    Usually 20% down is considered standard

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  • 7 years ago

    $120,000 plus closing costs is what it would take...normally.

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