How much down for FHA loan?
I live in Queens County NYC and I’m looking at an FHA loan to buy a single-family home that fits my budget. My preferred price range is between $275k to $300k. My Fico is 732 with an income of $102k. How much downpayment should I prepare? by juliano792 from Queens Village, New York. Nov 17th 2021
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
FHA loans only require a small down payment of 3.5% of the purchase price. If you are a first time home buyer, there are conventional loans that only need a minimum of 3% down. Reach out to a local mortgage broker in your area to determine your best options. I lend for properties in MN, WI, IA, ND, and SD. Find me at FirstTimeHomeBuyer-MN.com - Cambria Mortgage, NMLS 274132
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