Ask Experts Questions for FREE Help !
Ask
    brian l smith's Avatar
    brian l smith Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 19, 2009, 07:39 PM
    How would I do with $5,000 down
    How would I do with $5,000 down and avrage credit
    StaticFX's Avatar
    StaticFX Posts: 943, Reputation: 74
    Senior Member
    		  
    #2

    Apr 20, 2009, 07:19 AM

    Well, it all depends on the price of the house and the type of loan. Avg credit will probably get you a higher rate... (better your credit, the lower the rate)

    But the $5k will probably not be enough. Go talk to a mortgage broker and see about getting pre approved.
    Xyzpdq0121's Avatar
    Xyzpdq0121 Posts: 85, Reputation: 6
    Junior Member
    		  
    #3

    Apr 20, 2009, 07:28 AM

    Expect to have at least 5% down on a home to get a loan right now. So that means your $5,000 would be a down payment on a $100,000 home. You will be looking into a FHA loan at that point. But you need to talk with a mortgage officer to find out more specific information.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


View more questions Search