Facts About Down Payment

1. Facts About Down Payment 1 Down payment amount can be arranged from a number of sources such as personal funds, gift funds, grants, etc. 2 Some lenders may demand a higher down payment if your credit score is bad. So make sure that you make no default on payments.  3 EMI & down payment are inter-related. The more amount you pay as down payment, the less you are required to pay as EMI. 4 Not all loans require you to pay down payment, certain loans such as VA Loans & USDA Loans have no down payment requirements. 5 Down payment requirements for an FHA Loan varies i.e. borrower with a credit score of 580 is required to pay 3.5% down whereas a borrower with 500- 579 credit score has to pay 10% down. 6 Down payment assistance programs are not just for first time homebuyers i.e. any qualified homebuyer can opt for it. 107 W. Hwy. 190 Copperas Cove, TX 76522 254-542-5100 2201 Trimmier Rd. Killeen, TX 76541 254-680-6158 14641 S. Padre Island Dr., Ste. B Corpus Christi, TX 78418 3106 S. WS Young Dr., Bldg. D, Ste. 402 Killeen, TX 76542 254-953-7000 361-949-4647 10961 Gateway Blvd. West, Ste. 200 El Paso, TX 79935 915-843-2681 8522 Broadway St., Ste. 208 San Antonio, TX 78217 210-340-0404 1320 N. Zaragoza Rd., Ste. 111 El Paso, TX 79936 915-858-1996 7348 W. Adams Ave., Ste. 200 Temple, TX 76502 254-771-0020 16165 North 83rd Ave., Ste. 200 Peoria, AZ 85382 201 E. Central Texas Expwy., Ste. 1600 Harker Heights, TX 76548 254-680-6155 480-752-3110 100 W. Central Texas Expwy., Ste. 300 Harker Heights, TX 76548 254-690-3765 www.fcmloans4u.com Image Source: Designed by Freepik