Zillow Advice: Mortgage Rates - Down payment on a home. http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ Zillow Advice | Zillow Real Estate I have seen quite a few responses ... http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ I have seen quite a few responses that state the minimum down is 5% on a conventional loan.&nbsp; Standard guidelines for Fannie Mae calls for 3% down on a conventional loan.&nbsp; If a bank or lender is not offering a 3% down loan, it is usually an indication that they have "overlays" resulting in a higher down payment requirement.<br/><br/>Also, be sure to check with local non profit organizations to see what programs they have available.&nbsp; Here in Colorado, we have a 3% down conventional loan with NO mortgage insurance.&nbsp; It is an unbeatable program.&nbsp; <br/><br/>Finally, if you are looking at condos and wish to use an FHA mortgage, you will need to check if the building is "FHA approved".&nbsp; Many of the condo projects have lost their approval, and due to costs have not re-applied.&nbsp; You can use the following link to check project names for approval purposes.<br/><br/>https://entp.hud.gov/idapp/html/condlook.cfm Sun, 13 Oct 2013 15:26:00 GMT http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ 2013-10-13T15:26:00Z They are the same as far ... http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ They are the same as far as down payment requirements are concerned. Fri, 11 Oct 2013 17:55:00 GMT http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ 2013-10-11T17:55:00Z Have a local lender or post ... http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ Have a local lender or post a loan request on zillow to be matched up with a lender to show you how much funds would be needed with downpayment and closing costs.&nbsp; Thu, 10 Oct 2013 17:57:00 GMT http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ 2013-10-10T17:57:00Z Take a look at what Jonathan ... http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ Take a look at what Jonathan said below. Great answer<br/><br/><br/><br/>Thanks<br/>Samuel Rifkin Thu, 10 Oct 2013 17:56:00 GMT http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ 2013-10-10T17:56:00Z I would suggest to look at ... http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ I would suggest to look at Jonathan's comment below because he shows the minimum down payment for different loans. You should understand though that each loan has it's pros and cons. For example an FHA loan has a low down payment of 3.5% but you will have to pay a mortgage insurance as well. On the other hand there's a conventional which requires a higher down payment and no mortgage insurance. I also want you to understand that 5% is the absolute minimum for a conventional, it doesn't mean that you will be offered this though because this can depend on your finances. Also, to qualify for a VA and USDA loan you have to be a veteran or seeking a USDA approved property.<br/><br/>Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me.<br/><br/>Good Luck! Fri, 13 Sep 2013 21:42:00 GMT http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ 2013-09-13T21:42:00Z To get a mortgage rate you ... http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ To get a mortgage rate you will be happy with without PMI, plan on putting down 20-25% on a condo. &nbsp;<br/><br/>Always use a buyers agent. &nbsp;Remember, the listing agent represents the SELLER, always. &nbsp;They are not allowed by law to help you negotiate the price down vs. their client. &nbsp; Fri, 13 Sep 2013 05:44:00 GMT http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ 2013-09-13T05:44:00Z Reasonable depends on what ... http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ Reasonable depends on what you are comfortable with below is a list of minimum down payments for loan programs. Good luck.<br/><br/>Conv. 5%<br/>FHA 3.5%<br/>VA 0%<br/>USDA 0%<br/>Fannie MyCommunity 3% Fri, 13 Sep 2013 05:04:00 GMT http://www.zillow.com/advice-thread/Down-payment-on-a-home/511145/ 2013-09-13T05:04:00Z