×

Go Back

Advice Topics

Top Contributors (View All)

Find a Top Real Estate Agent Near You

Search Now

Do you need 20 down to buy a house in California?

Do you need 20 down to buy a house in California? The money that I was saving isn't enough now that interest rates are high, so I'm wondering if I can put down less than 20 on a house.
Asked By Claire | Temecula, CA | 159 views | Buying | 9 months ago
Answer(2)
Sort By:
profile img
Novice
2 Answers
Ekreet Grewal

Corcoran Icon Properties

Hello, depending on your credit and homeownership history, you could qualify for a first time home buyers loan paying as low as 3.5% as a down payment. If you would like to learn more or if you would like me to help you get in touch with mortgage lender to see how much you prequalify for, message me at (209)215-7000.
profile img
Novice
2 Answers
Cassidy Sousa

RPM Rushing Real Estate

Hello, it depends on which loan type you go with & qualify for. Your qualification will depend on your DTI (Debt-to-Income) Ratio, Income, Credit Score & Homeownship status/history. If you are able to go with an FHA Loan you would only need to put 3.5% down. Conventional Loans can be done with as little as 5% down, typically ranging from 5%-20% down. I would also recommend getting quotes from lenders for different mortgage rates are available depending on their programs/connections. You can contact me at 209-445-0807 for lender recommendations.

Are you ready to find a top agent near you?

Browse profiles of the highest ranked agents in your area and find one that meets your specific needs.

Search

Related Questions

Search for Agents by Top U.S Cities
Search for Agents by States
Search for Company by States