Mortagage down payment amounts can vary depending on an individual's credit worthiness, debt to income ratio, and other many factors that should be discussed with a lender. This is a default mortgage calculator that allows you to input various down payment amounts and interest rates for you to see what payment's may hypothetically be. It is not a guarantee of financing at the stated terms.
As a general rule of thumb the following down payment amounts for different types land should be considered for financing purposes. Again, final terms and arrangements will depend on your individual financial situation and the institution providing the loan to you.
Residential Properties: As little as 3.5% to as high as 25% of purchase price.
Vacant land Properties: 25 to 35% purchase price. Most institutional lenders (Banks, Mortgage Brokers, etc) do have a minimum finance amount.
Commercial Properties, Second Homes, Investment Property, Speculative real estate purchases: 20% to 30% of purchase price as down payment.
For more details and information, you may want to read our lengthy article on financing purchases we have: Financing Real Estate in North Florida
Please enter your preferences in the form. We will contact you in order to schedule an appointment to view this property. For more immediate assistance, please call William Golightly at 386-590-6681.