How much do we need as down payment?

For conventional financing, a down payment of at least 3-5% of the purchase price is generally required. 

The minimum amount required to cover down payment (and closing costs) depends on many factors, including but not limited to:

  • Geography
  • First-Time Home Buyer status
  • Target purchase price
  • VA eligibility (Veterans, Active Duty Service Members, and family members)

As part of our process, CoBuy-certified™ Lenders help CoBuyers to navigate available options and to determine the mortgage of best fit.

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