Published April 16, 2021

How Much Will a Down Payment Cost You?

Written by Anderson Hicks Group

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Here’s a quick look at how much you’ll need to put down to buy a home.

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The amount of money that you need for a down payment on a home depends on your situation. If you have a VA loan or other government-insured loan, you actually might not need a down payment at all. Typically, first-time homebuyers will need anywhere from 3% to 5% upfront. That’s roughly $12,000 to $14,000 on a $250,000 house. If you want to avoid paying mortgage insurance, you'll need to put 20% down. As you can see, there are a lot of options. If you have questions for us about the down payment options you qualify for as a homebuyer or anything else related to real estate, don’t hesitate to reach out via phone, email, or through our website. We look forward to hearing from you soon.