What would be a decent down payment for a house priced at 639k?

Question

What would be a decent down payment for a house priced at 639k?

Answer 1

It really depends on your bank and the type of loan that you are getting.  I had to down 30% for a low doc loan but you can probably down 10-20% on a conventional loan.

Answer 2

I've heard 10% is a good downpayment ammount (so 64k), and if you have 20% you don't have to pay PMI (Private Mortgage Insurance) so that's 128k.

Answer 3

Decent down payment ? 20%.

Answer 4

A decent down payment would be anything over 20% which is $127,800.  A minimum down payment to be secure in the house should be 10% which is $63,900.

Good Luck!

Answer 5

Well It depends on how much you can afford the payment, make sure your earnings each month/yearly and your all other expenses. Then you would figure out the down-payment exactly , how much you want put down, 10% minimum or 20 and 30%

Good Luck!

QL

PS: should dicuss with lender/ senior loan officer so they might give you a plan/consultation.

Answer 6

I would say that a good D/P would be 15% - 20% . In today's market that would show better intentions of not wanting or fear of default .