📝 In this video I lay out the minimum down payments needed for the different loans types in 2020.


📝 And, let me be very clear. 


📝 These are the *minimums* needed down. 


👉 Potentially, could it make more sense to put down more, to have a lower payment? Sure. 


👉 Potentially, in order to qualify, in terms of debt versus income ratios, would you need to put down more? Sure. 


👉 Potentially, if you were going with a jumbo loan, and wanted to buy out the mortgage insurance, could you put down more? Sure. 


📝 Obviously, there's no one size fit all in mortgage loans, and each individual situation is different -


📝 ... but, let's rock out the minimums down below. 


👉 
Down Payment Assistance - As the name suggest, the minimum down needed is nada (from you), and you get the needed down payment covered via a loan. (And, we can even get the seller and/or a loan to cover your closing costs too!) 


👉 
VA Loan - If you were in the military, or are now, you can get a VA loan with $0 down payment. (And, we can even get the seller and/or use a lender rebate to cover your closing costs as too!) 


👉 
USDA Loan - If you want to buy in rural areas of San Diego (think Ramona, Julian, Campo, Santa Ysabel, etc) you can get a USDA loan with $0 down payment. (And, we can even get the seller and/or use a lender rebate to cover your closing costs as too!)


👉 
Conventional Loan - For a loan amount up to $510,000 you can put down just 3% for a conventional loan. (And, we can even get the seller and/or use a lender rebate to cover your closing costs as too!)


👉 
FHA Loan - For a loan amount up to $700,000 you can put down just 3.5% for an FHA loan. (And, we can even get the seller and/or use a lender rebate to cover your closing costs as too!)


👉 
Jumbo Loan - Anything above the $510,000 loan amount as a conventional, or $700,000 as an FHA, would be a Jumbo loan. I can do a Jumbo loan, up to $3 million, with just 5% down. (And, we can even get the seller and/or use a lender rebate to cover your closing costs as too!)


👉 
Self Employed - If you are self employed, we are using bank statements, you have assets, etc - the minimum down is usually 5-10% depending on the situation. (And, we can even get the seller and/or use a lender rebate to cover your closing costs as too!)


📝 You can apply online, in 15 minutes or less, 24/7 at:

http://www.ScottsLoanApp.com


📝 Feel free to leave your comments below. 


📝 Or, text/call me at (760) 297-4539


Your Minimum Down Insider, 


Scott

7 "Did You Know" San Diego Loan Secrets Revealed!

Get Your Fast and Free Rate Quote Now!

By clicking “Send” I/We agree by electronic signature as stated below: 1) To be contacted by telephone even if the telephone number appears on a State/National Do Not Call registry or any company’s Do Not Contact lists. 2) To this website’s Privacy Policy and Terms of Use.