Depending on the program you select and qualify for, your down payment can range from 0% down to 20% down. Contact your local mortgage professional [name] - 414-303-1215 to get pre-qualified for free as well as receive a free quote. From there you will have a firm idea on how much of a down payment you will need. You should get pre-qualified before you look at any homes to buy, let alone make any offers. Unless you have cash, the sale of the home is contingent upon you getting the financing. If you dont qualify in the first place then you end up wasting your own time as well as everyone elses involved.

The more money you put down, the more options you have for financing a purchases. If you have limited down payment funds, there are still plenty of avenues as well to obtain financing. Making an appointment with a mortgage professional is the first step in the home buying process.

To obtain a down payment as small as 3% you will need a good credit profile. Many programs today such as FHA do not look primarily at credit score as much as credit profile. If your debt to income ratios are low and you ave good consumer payment history you can get approved for 97-100% financing with scores into the 500's through FHA and my community loan programs.

 

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