Do you have to have a down payment to take out a home loan?

Posted on Apr 25, 2014 in Stated Income Loans

Question by : who offers the best fha loans?
who offers the best fha loans?

Best answer:

Know better? Leave your own answer in the comments!
HARP 2.0 : Underwater Homeowners Need Fewer Loans Over 125% LTV
In late-2011, page the Home Affordable Refinance Program (HARP) was made available to U.S. homeowners whose mortgages were "severely underwater". The program was a hit. At its peak, there HARP loans for which loan-to-value (LTV) exceeded 125% accounted …
More informaiton please visit here…

Maryland Man Sentenced to Jail in Million Loan Mod Scheme
Also according to court documents, viagra dosage the conspirators misrepresented that, with HOPE's assistance, the homeowner was guaranteed to receive a loan modification under the Home Affordable Modification Program (HAMP), which is part of the Troubled Asset …
If you would like more informaiton please visit here…

Quinn promotes Welcome Home Illinois Program
CHICAGO – Governor Pat Quinn Tuesday addressed the annual Illinois Governor's Conference on Affordable Housing where he discussed the state's commitment to affordable homeownership and the new Welcome Home Illinois loan program for first-time …
More informaiton please visit here…
Question by jainika s: requirement 4 home loan?
best deal 4 home loan

Best answer:

Answer by
1) Are you able to make at least a 20% down payment? If down payment will be less than 20%, information pills a private mortgage insurance will be charged until 20% of the loan is paid off.
2) Your Debt to income ratio must be less than 40%. (Debt to Income Ratio = Gross Income / total payments toward debt). Proof of income will be required (just send a copy of your recent pay stub).
3) Your credit history. A score of 720 or above favors you for a lower interest rate. A score between 675 to 720 means you don’t qualify for the best rate. A score below 620 means you fall in the subprime category, dosage meaning you will find it very difficult to find a home loan.
4) Employment history.
5) Loan to value (LTV). A LTV that is 80% or higher will make it very difficult for the borrower to qualify for a mortgage. LTV = Loan amount / Value of property.

Know better? Leave your own answer in the comments!
Question by : Do you have to have a down payment to take out a home loan?
Do you have to pay a down payment when you take out a home loan, viagra approved or can you take out the full amount of the home? For example: a house costs $ 900, this site 000. Can you take out a loan for $ 900, about it 000 without having to pay a down payment?

Best answer:

Answer by My Take on It
Nowadays, you need a down payment. The very least would be 3.5% of the purchase price.
If someone can afford to buy a house that costs 900k, they better have the ability to put a down payment down! LOL Most banks don’t even lend that much anyways. Anything over I believe 417k is considered a jumbo loan and requires about 30% down.
So, no, you cannot buy a 900k house without a dog in the race here (down payment)

What do you think? Answer below!

5avg.rating 22 votes.


  1. You need cash for a down payment and closing costs. No lender will give you a loan for the full price of a house.

  2. The housing sector just collapsed and was 40% responsible for the recession we are still in, because people couldn’t pay their home loans. You are dreaming if you think it’s possible without some form of down payment now.

  3. FHA is 3.5% down
    Conforming Loans 5% Down
    VA (If you have military background) 100%
    USDA (rural housing) you have to conform to these guidleines 100%

  4. Our buyer just got a USDA loan for 100% financing. There are a lot of requirements. Its for low income people that have good credit.

  5. Everywhere in the country a $ 900K loan would require at minimum 20%.
    700 credit score required.
    There are no VA loans for this loan amount and there are no USDA loans for this amount

  6. You can only get a conventional loan, no USDA, no VA, no FHA, in this amount, so you would need a down payment of 180k

  7. Keith is correct.

    However, on a 900000 sales price, you would only be looking at doing a JUMBO loan and this would require at least 5% and maybe as much as 10% down – depending on area, etc.

    USDA, VA and FHA loans would never work on this sales price.