Understanding down payments? FHA loans typically need 3.5% down. Conventional loans? Expect 5-20%. VA loans often offer the lowest down payment option (USDA is another exception). Know your options! #FHALoan #VALoan #ConventionalLoan #DownPayment #MortgageTips | The Rate Update With Dan Frio
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The % down payment is based on the home price. So for example, FHA requires a 3.5% down payment. If a home is priced at $300,000 you multiply that by 3.5% and your down payment is $10,500. Let me know how I can help!🏠 #mortgagetips #DownPayment #HomebuyingTips #firsttimehomebuyer | Chadd Johnson
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