Have you been saving up to buy a house? Most people save up enough money for their down payment and closing costs then they get a loan for the remaining balance. Different loans require different down payments and have unique closing costs. If you are eligible for a VA loan then you can contribute as little as $0 for the down payment. Conventional and FHA loans can go as low as 3% down on up. If you can, it is best to put at least a 20% down payment to avoid any additional mortgage insurance costs. The more money you put down, the less you'll pay every month and the less you will pay in interest over the life of the loan. If you have questions about getting a home loan, give me a call and I would be happy to assist. Pinyon Properties is your real estate one-stop-shop!
