我需要多少首付款？

One of the most frequent questions we hear is, ?How much down payment will I need to buy a home??. Saving for a down payment can be one of the most challenging aspects of purchasing real estate. Some may worry that they?ll never be able to buy a home because they won?t be able to save up enough money to make that down payment. But even if you can?t save up tens of thousands of dollars, don?t count yourself out. Let?s take a look at how much you?ll really need and what your options are.

What is a down payment?

First of all, let?s clarify what a down payment actually is. A 首付 is the money you pay upfront when you buy a home. The amount of the down payment is calculated as a percent of your purchase price. For example, if your home costs $450,000 and you put down 10 percent, then your down payment would be $45,000. The remainder of the cost of the home is then financed by your lender. 

Do you need to put down 20 percent?

Homebuyers often hear that they need a down payment of at least 20 percent to close on a home. If you can pay 20 percent down, then your chances of getting a mortgage are greatly improved. The more money you put down, the less risk there is for the lender. You?ll also save money in the long run because you won?t need to pay for private mortgage insurance (PMI).

Can you put down less than 20 percent?

Using the same example as above, a down payment of 20 percent on a $450,000 home would be $90,000. For many buyers — especially first-time buyers — this can be a real obstacle. In fact, many potential buyers may opt not to buy a home because they can?t afford the down payment. But there are options available so that you don?t need to pay 20 percent. You can apply for an FHA贷款. These types of loans are backed by the Federal Housing Administration. The down payment on an FHA loan can be as little as 3.5 percent. Since the federal government is guaranteeing the loan, your lender will assume less risk and can more easily offer a loan with a lower down payment.

Can I put down nothing at all?

The great news is that you can buy a home with no down payment at all if you qualify. VA贷款, which are guaranteed by the U.S. Department of Veterans Affairs, typically do not require a down payment. In addition, 美国农业部贷款, which are backed by the U.S. Department of Agriculture, also require no down payment. Each program has strict requirements in order to qualify, but can be a huge benefit for those who do.

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