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down payment

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randydoc Joined: 20 Apr 2010 Posts: 1 1.28 Dollars($)	Posted: Tue Apr 20, 2010 12:12 pm    Post subject: down payment Like 0 Dislike 0 hello, My name is randy.I am a Canadian citizen, moving in a few months to Riverside, CA. I will have a job of course, a visa. Salary about $200,000 . Other debt about $3000 per month. Questions are 1. What is minimum % down for a mortgage ? What size mortgage/house could I afford ?
Niicss Joined: 03 Oct 2005 Posts: 4831 Location: New Jersey 508.39 Dollars($)	Posted: Wed Apr 21, 2010 3:31 am    Post subject: Like 0 Dislike 0 If you want to go for a conventional loan, then you'll have to pay 20% down whereas if you go for FHA loan, then you'll have to pay 3.5% - 5% down. You can use the given calculator in order to find out how much house you will be able to afford: http://www.mortgagefit.com/calculators/howmuch-afford.html

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