Tools

Ask a Question
Start a Discussion
Close
Create an Email Alert

Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.

This alert is for the following:

Topic:
2500 down on 120.000 home?

How often would you like the alert emailed?

Frequency:

Immediately Daily Weekly
Maximum 20 emails/day

Save

Cancel E-mail alerts
RSS
Send to del.icio.us
Send to StumbleUpon
Print page

Partner Tools

Views: 328
US
North Carolina
Nearby States
- Alabama
- Alaska
- American Samoa
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Guam
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Northern Mariana Islands
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virgin Islands
- Virginia
- Washington
- Washington D.C.
- West Virginia
- Wisconsin
- Wyoming
Don't see it?

Find:
Asheville
Nearby Cities
- Acton
- Alexander
- Avery Creek
- Barnardsville
- Beaverdam
- Beech
- Bent Creek
- Biltmore Forest
- Biltmore Lake
- Black Mountain
- Blackberry Inn
- Blue Ridge Forest
- Candler
- Candler Heights
- Coburn
- Democrat
- Dillingham
- Dula Springs
- Emma
- Enka Village
- Fairview
- Flat Creek
- Flat Top
- Gashes Creek
- Georgetown
- Glady
- Happy Valley
- Hominy
- Jugtown
- Juno
- Jupiter
- Knollwood
- Leicester
- Luther
- Montreat
- New Candler
- Newfound
- Oak Park
- Owltown
- Paint Fork
- Pleasant Grove
- Ridgecrest
- Royal Pines
- Stony Fork
- Swannanoa
- Weaverville
- West Ashville
- West Haven
- Woodfin
Don't see it?

Find:
ZIP Code
Nearby ZIP Codes
- 28704
- 28728
- 28776
- 28801
- 28802
- 28803
- 28804
- 28805
- 28806
- 28810
- 28813
- 28814
- 28815
- 28816
Don't see it?

Find:

2500 down on 120.000 home?

Contributions: 1

Q&A

:1

We are in the process of making a counter offer on a home we want to buy. Our lender says that if we get them to settle at 120.000 our down payment will be 2500.00 on an FHA loan. This seems low to me when i do the figures. Does this seem right? and how?

Flag content

February 13 - Asheville

RSS

Answers (3)

Brad Officer, "Jax Realtor"
Contributions: 102

Brad Officer, "Jax Realtor"

Real Estate Agent

View my 6 listings

Contributions: 102

Q&A

:25
Disc

:2
Photos

:75

View full profile

Something sounds odd there. I've got a great mortgage contact if you need a second opinion. He has a list of references a mile long and almost always has the best rates. He's the guy I would use for my personal home. Give me a call or send me an email if you would like his contact info.
www.OfficerRealty.com

Flag content

February 20

titan10
Contributions: 821

titan10

Contributions: 821

Q&A

:298
Disc

:500
Photos

:23

View full profile

no. 3.5% is 4200. Something is fishy. Talk to another lender. Two possibilities-he is lying, or he cant do math. Either one means move on.
Remember to add your closing costs too. It may increase your cash at closing, and get a good faith estimate asap.

Flag content

February 14

wetdawgs
Contributions: 3939

wetdawgs

Contributions: 3939

Q&A

:2368
Disc

:1565
Photos

:6

Zillow All-Star

Since January 2009

View full profile

With an FHA loan, you need a minimum down payment of 3.5%. 3.5% of 120,000 is $4200. There are also likely to be closing costs.

Flag content

February 13

Have a question? Ask it here.

Active Asheville Real Estate Agents

Todd Dunnuck

12 listings

Local Expert
Scott Carter

30 listings

Local Expert
Cecelia Pelkey

19 listings

Local Expert
Brad Puffer

162 listings

1045 contributions
Diane at the Coast

11 listings

123 contributions

See more Asheville real estate agents

Question 2500 down on 120.000 home?

Latest answer by Brad Officer
February 20

In Buying Process
3 Answers - 328 Views

See More

Guide Real Estate Buyer's Closing Costs

In Buying Process
Edited August 27

Guide List of Closing Costs and Fees

In Buying Process
Edited August 27

Guide You've Opened Escrow

In Buying Process
Edited July 21

Guide Home Buying One Step at a Time

In Buying Process
Edited May 04

Guide A Buyer's Guide to Making the Right Choice

In Buying Process
Edited December 05 2008

See more articles about Buying Process

Current Mortgage Rates

Current Last Week

30 Year Fixed

15 Year Fixed

5/1 ARM

Get this widget

<div style="width:298px;height:123px;border:1px solid #adcfff;overflow:hidden;text-align:center;font-family:verdana,arial,sans-serif;font-size:8pt;line-height:13x;background-color:#eff3ff;letter-spacing:0;text-transform:none;">
		<div style="margin: 0 6px;">
			<div style="margin-top:6px;">
				<a href="http://www.zillow.com/Mortgage_Rates/#{scid=mor-wid-lthd}" target="_blank" style="font-size:9pt;color:#36b;text-decoration:none;font-weight:bold;">
				   
						Current
				   
				         
				   Mortgage Rates</a>
			</div>   
			
			<div style="color:#555;margin:5px 0 1px;">
				<span style="padding-left:137px;">Current</span>
				<span style="padding-left:23px;">Last Week</span>
			</div>

<div style="background:#fff;height:60px;width:284px;border:1px solid #adcfff;text-align:left;">
				<div style="width:146px;float:left;">
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt1}" target="_blank" style="text-decoration:underline;color:#36b;">30 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#eff7ff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/15_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt2}" target="_blank" style="text-decoration:underline;color:#36b;">15 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/5-1_ARM_Mortgage_Rates/#{scid=mor-wid-ltt3}" target="_blank" style="text-decoration:underline;color:#36b;">5/1 ARM</a></div>
					</div>
				</div>
					
				<iframe title="Current Mortgage Rates" frameborder="0" height="60" scrolling="no" width="138" src="/mortgage/MortgageRateTableWidget.htm?wide=1&region=102001">
						Your browser doesn't support frames.  Visit 
					<a href="http://www.zillow.com/mortgage/" target="_blank" style="text-decoration:none; font-size:9pt; font-weight:bold;">Zillow Mortgage Marketplace</a> 
					to see this content.
				</iframe>
				<div style="clear:both;"></div>
			</div>
			
			<div style="margin:4px 6px 0;height:15px;width:276px;">
				<a href="http://www.zillow.com/mortgage/#{scid=mor-wid-ltgr}" target="_blank" title="Zillow Mortgage Marketplace" style="display:block;margin-left:4px;height:15px;width:145px;float:left;"><img src="/static/images/zillow-mortgage-logo-small.gif" alt="Mortgages, Home Loans, and Mortgage Quotes at Zillow Mortgage Marketplace" style="border:none;"/></a>
				   
				<a href="http://www.zillow.com/webtools/widgets/MortgageRateWidget.htm#{scid=mor-wid-ltget}" target="_blank" style="font-size:7pt;color:gray;text-decoration:none;float:right;margin:1px 5px 0 0;width:80px;">Get this widget</a>
			</div>
		</div>
	</div>

Need a Mortgage?

Zillow Mortgage Marketplace

Competitive rates
Accurate, custom quotes
Thousands of lenders

... and, it's free and anonymous

Learn about Zillow Mortgage Marketplace

Zillow Poll:

Suggested by xitstrgty

Do realtors work hard for the money?

Definitely...they are worth every penny!

I guess I'm 50/50, they got the job done but I didn't see mine breaking a sweat

No way! I could have done their job myself

None of the above (what else could there be though?)

Next poll
Suggest a poll

Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy

All Results (54)

Zillow FAQs (0)

Home Buying (2)

Home Selling (4)

Mortgage (0)

Housing Market (0)

Local Topics (1)

Home Ownership (2)

Home Improvement (2)

Home Q&A (41)

Pro-to-Pro (0)

Other (2)

Tools

Create an Email Alert

This alert is for the following:

How often would you like the alert emailed?

Partner Tools

2500 down on 120.000 home?

Contributions: 1

Real Estate Agent

Contributions: 102

Contributions: 821

Contributions: 3939

Zillow All-Star

Have a question? Ask it here.

Active Asheville Real Estate Agents

Related Questions

Question 2500 down on 120.000 home?

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

Guide List of Closing Costs and Fees

Guide You've Opened Escrow

Guide Home Buying One Step at a Time

Guide A Buyer's Guide to Making the Right Choice

Need a Mortgage?

Get instant mortgage quotes

Be A Good Neighbor

Tools

Create an Email Alert

This alert is for the following:

How often would you like the alert emailed?

Partner Tools

Nearby States

Nearby Cities

Nearby ZIP Codes

2500 down on 120.000 home?

Contributions: 1

Main Image

Answers (3)

Real Estate Agent

Contributions: 102

Contributions: 821

Contributions: 3939

Zillow All-Star

Have a question? Ask it here.

Active Asheville Real Estate Agents

Related Questions

Question 2500 down on 120.000 home?

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

Guide List of Closing Costs and Fees

Guide You've Opened Escrow

Guide Home Buying One Step at a Time

Guide A Buyer's Guide to Making the Right Choice

Need a Mortgage?

Get instant mortgage quotes

Be A Good Neighbor