Down payment on house

How much % down do you have to pay these days as long as you are not a first time home buyer?
Thanks!

 

That would a question for your lender.

20% would be a good start.

 

I thought that these days one had to put down at least 20%!?

 

Not necessarily, FHA only requires 3.5% or USDA is 100% financing although they are running out of money (but hope to be refunded). PM me if you need more info. Thanks!

 

Thanks! It's not for me but a friend of ours.

 

Other Options

All of Johnston County qualifies for USDA Home Loans - and if the Seller is paying closing costs - it could cost you less than $2000 TOTAL to purchase a home. USDA is not just for first time home buyers... but you can not own other property in order to qualify. If you own another property, and you are renting it (there are a ton of people who moved here for a job and are renting their previous home because it won't sell), FHA has some cash reserve requirements that can be kinda stiff. The downpayment is only 3.5% - but they want to see that you have several months worth of cash, in case the renter vacates. If you have questions - let us know!