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Old 12-27-2012, 12:50 PM
 
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Can someone please help me calculate how much I need for a down payment on a house with an FHA loan. The loan is for $ 72,500.00
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Old 12-27-2012, 02:19 PM
 
Location: Indianapolis
505 posts, read 940,719 times
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ask the lender.
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Old 12-27-2012, 02:39 PM
 
Location: Not where you ever lived
11,535 posts, read 30,262,628 times
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More is better. If your FICO is good and you have a large downpayment then you have a better chance of getting a low interest rate and smaller PMI. All mortgagors would like to see the downpayment and Closing Costs in your savings account. My best guess is your down payment will be less than 20%, most likely between 10 and 15, but I do not know this to be a fact. When I went to FHA, I was livinig in my house.




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Originally Posted by wink7 View Post
Can someone please help me calculate how much I need for a down payment on a house with an FHA loan. The loan is for $ 72,500.00
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Old 12-27-2012, 05:34 PM
 
Location: Chicago
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I believe FHA still only requires 3%, it's a bit more complicated than that, the lender can go into greater detail with you.
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Old 12-27-2012, 05:35 PM
 
Location: Arizona
3,763 posts, read 6,710,277 times
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Quote:
Originally Posted by wink7 View Post
Can someone please help me calculate how much I need for a down payment on a house with an FHA loan. The loan is for $ 72,500.00
I have messaged you a realtor who can help, please let me know you got it.
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