How To Determine Your Mortgage Down PaymentJan 20 2014
By: Nicole Gates
If you’re thinking about buying a new home, one of the first things you may be wondering is “How much do I need to pay for my down payment?” Since the down payment requirement isn’t an exact science, there are many factors that can impact the actual percentage you should expect to pay. Things like your property type, your type of loan and of course your credit score, all go into determining exactly what you should expect to pay.
To help you understand this formula, we’ve broken down each of these factors and how you can use them to determine your down payment for your mortgage.
We also cover additional information about your down payment, and more, in our free eBook “Demystifying the Mortgage Process”.
What confuses you the most about your down payment requirements?