5,104,931
Well, I'm not a lender, but I do work with first-time buyers and they typically put down 5%. Some do put down 10%. Unless, of course, it's an FHA or VA borrower. Many first time buyers go the FHA route.
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Tim Bray
Mystic, CT
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Richard Weeks
Dallas, TX
3,416,038
Most first time buyers I have are using fha and putting down 3.5%
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
5,583,278
5% of the purchase price with p/s agreement....
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
1,844,171
min FHA.
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
4,882,355
Depends on the type of loan they are trying to secure.
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
1,197,022
Not a lender but an interesting question here.
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
2,071,025
We don't have any special program for first time buyers when it comes to condos...
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
2,220,323
I'm not a lender and will wait to see all responses.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
1,502,868
3%, 5% or 10% usually. Depends on their savings, payments and preferences.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
1,196,588
I deal primarily with sellers but have noticed buyers putting 5%-10% down unless they are going FHA
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
1,725,896
It is all over the board. Many of our buyers are VA, so nothing. The ones who are not try for 20% whenever possible, thoiugh at the current home prices, it is difficult for many
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
2,390,010
I'm not a lender Tim Bray but I can tell you that less than 50% of the buyers I worked with put anything down because so many in our area go VA.
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
6,392,899
5 percent seems common here.
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Debe Maxwell, CRS
Charlotte, NC
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
77,079
Thank you all for taking the time to respond. What percentage of first time home buyers are capable of putting down 20% in your opinion?
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
7,835,282
First time home buyers often use FHA or VA financing plus there are often state or local programs that provide assistance.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
3,344,906
In my area it is generally 20%
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
1,239,801
20% with no loan contingency. More if the appraisal comes out low.
Any loan less 20% never has been accepted by sellers. This is Silicon Valley.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
469,510
Not a lender but work with a lot of first time home buyers - 0 to 5% is the typical amount of down payment range for first timers.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
1,598,452
Depends of the credit history.
From 3%
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
5,229,328
I'm not a lender but, my clients are putting 20-30% down - many are paying cash.
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Bob "RealMan" Timm
Minot, ND
900,008
Good question! Hope it doesn't go back to zero down for tight loans.
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Bob "RealMan" Timm
Minot, ND
2,781,013
What a good and relevant question at work here...Lets find out Tim
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Bob "RealMan" Timm
Minot, ND
5,868,372
I am not a lender, but have everything from VA - no down to cash buyers.
19,816
In Florida, I can do a 95% ltv Super Jumbo purchase loan with closing costs paid.
On average, 3% to 5% down or the least possible and I try to working in closing costs in the deal too.
4,935,556
1,310,972
Without being a lender I can easily say that first time buyers put down what ever they can or think that they need to put down. No such thing as "typical".
2,240
Most of my first time buyers are putting down 3-5%. Many also ask for assists to help with closing costs.