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Calling all homeowners!!!

Posted by on Jan. 1, 2013 at 11:57 AM
  • 45 Replies

How much was your down payment? Did you get to choose how much you wanted to put down or were you required to put down a percentage? Did you pay closing costs?

by on Jan. 1, 2013 at 11:57 AM
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Replies (1-10):
Paparazzi5bling
by on Jan. 1, 2013 at 11:58 AM

we put down 3.5% that was required by the lender.  we bought a foreclosure and the selling bank paid the closing costs.

NDADanceMom
by on Jan. 1, 2013 at 12:00 PM

we paid $25k cash for this house.  forclosure and you cant get a loan on a house that isnt liveable.  We got a construction loan for $75k to do the major repairs.  

For our first home we paid closing and the mortgage company, not the seller required a down payment.  The seller gets paid in full right away.  We put $10,000 down.  

mrswillie
by Ruby Member on Jan. 1, 2013 at 12:01 PM

We paid in full, but typically, around here lenders are asking for 10% plus closing.

DuncansMommy
by on Jan. 1, 2013 at 12:05 PM

We put $3,000 down, they paid closing.

Kitschy
by on Jan. 1, 2013 at 12:07 PM

My FHA loan required we put down 3% of the total purchase price of the home. We put down 25% though because that is kind o the golden rule of home buying. We did pay closing costs as well because we bought a foreclosure home and the seller was a bank so they weren't going to pop for closing costs like some sellers will.

Your lender determines how much you put down, not the seller.

twinners.mama
by on Jan. 1, 2013 at 12:09 PM
We bought a foreclosure and the bank paid our closing costs!! We put about $8000 down.
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rjsmommy214
by Silver Member on Jan. 1, 2013 at 12:09 PM
1 mom liked this

That's what I'm hoping we can do. We want to save a few thousand in case something happens and put 3 or 4k down.

Quoting DuncansMommy:

We put $3,000 down, they paid closing.


somuchlove4U
by on Jan. 1, 2013 at 12:11 PM
We didn't put any down and they paid closing.
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supermom985
by on Jan. 1, 2013 at 12:11 PM

$135,000 but we paid cash and don't have a mortgage. We did not pay closing costs . I am buying a new house soon and will have a mortgage , so idk lol


mommytoeandb
by Gold Member on Jan. 1, 2013 at 12:12 PM
We put down 5% on a conventional loan over 10 years ago. I'd expect at least 10% now.
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