FHa 203k minimum down payment?

All FHA loan purchase products require 3.5% down, however they do allow gifted/granted funds.. and there are lenders who will allow you to finance a portion of the 3.5% in a 2nd mortgage.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

The minimum down payment for a 203k loan is 3.5%. If you would like more information, please feel free to give me a call at your convenience. 303-407-0824 - Nick, American Liberty Mortgage.

3.5% is the minimum down payment required for FHA Insured Financing, but this can be ALL GIFT, so if that is an option, you can consider that. Also, you can request that your closing costs are paid by the seller of any property that you may make an offer on through a closing cost credit. Discuss this with a local mortgage professional for more details on how this program works and if it is the best program for you!

Yes, as stated, 3.5% is the minimum - 3.5% of the total cost including the improvements to the home. If you have more than the minimum downpayment to work with and very good credit often a conventional renovation (or repair escrow) mortgage makes more sense. These are "specialty" programs and not all mortgage lenders offer them.

FHA always requires a minimum down payment of 3.50%. With a 203K they will want 3.50% of the purchase price and the total cost of repairs. This is a great loan for the right situation. If you have any further questions I would be more than happy to help. Best wishes, Sean 303-521-7169