FAQ

How much do I need for a down payment?

You can put 5% of the purchase price down for a home valued at $500,000 or less, any amount above $500,000 requires 10%, and homes valued at $1,000,000+ require a 20% down payment. These values can be combined, see example:

  • $500,000 or less = 5% of the purchase price
  • $500,000 - $999,999 = 5% of the first $500,000, and then 10% of the remaining purchase price
  • $1,000,000+ = 20% of the purchase price