Down payment on house?

Question

How much down payment would you need for a house in New mexico?

3 -4 bedroom 2 bath with garage

Answer 1

well, i just got an FHA loan, and its 3%, but thats going up in oct, i believe to 5% (tho not 100% sure on that one).  if you get a convential loan its around 20%

Answer 2

20% if you don't want to pay PMI.  Depending on program you choose, you'll need 3% to 20% down.  Depending on the sales price and your credit, you may have to put more down.  Non-owner occupied, you'll need a bigger down payment.