Zillow Advice: Buying Process - does the down payment go towards the purchase price?

The question is rather silly ...

Wed, 17 Jun 2009 14:56:00 GMT

The question is rather silly and both answers haven't really made it clear.
Whatever amount you are approved for is what a lender is prepared to lend you (obviously).
Your downpayment is on top of that.
If you are approved for a 100K loan and you have a 10K downpayment, you can buy a home worth 110K.
If you are approved fo a 100K loan and and you have a 50K downpayment, you can buy a home worth 150K.
if you are approved for a 100K loan and you have a 100K downpayment, you can buy a home worth 200K

Ad infinitum

Not only does the $5000 go ...

Wed, 17 Jun 2009 14:28:00 GMT

Not only does the $5000 go towards the $120,000, you may have a few thousand dollars in closing costs. You'll be required to pay those out of pocket unless you can get the seller to agree to pay them for you.

You should sit down with your agent and loan officer to go over a breakdown of estimated costs on a transaction.

the later.......down payment ...

Wed, 17 Jun 2009 13:15:00 GMT

the later.......down payment goes towards purchase price