Posted on: 06th Sep, 2013 12:15 am
Hello there... I am planing to buy a condo worth around 140000 or less. How much down payment and closing cost would I have to pay in total?
Hi Sartora,
If you go for a conventional loan, you will be liable for paying 20% down payment. The closing costs may vary as per state laws. However, it will be somewhere near $3500 - $4000.
Take care
If you go for a conventional loan, you will be liable for paying 20% down payment. The closing costs may vary as per state laws. However, it will be somewhere near $3500 - $4000.
Take care
Hi Sartora,
If you are looking for a FHA loan, then you will be liable for paying a down payment of 3.5%. And as Sara has stated, the closing costs may vary as per state rules.
If you are looking for a FHA loan, then you will be liable for paying a down payment of 3.5%. And as Sara has stated, the closing costs may vary as per state rules.
You can get an FHA loan with 3.5% down payment and a conventional loan with 20% DP. You can check which is a better option for you according to the present financial condition.