down payment&closing costs

For buying a house.

How much was your down payment?
And your closing costs? How much was your loan for?

If you don't want to give actual values, what percentage of your loan was due for your down payment? And closing costs?

Thaaankyou.

Most of the time the down payment will be 3% of what you're buying it for. And the sellers pay the closing costs.

<blockquote><b>Quoting Novelidea:</b>" Most of the time the down payment will be 3% of what you're buying it for. And the sellers pay the closing costs."</blockquote>


I thought we pay the closing costs?!

<blockquote><b>Quoting Mayhem.:</b>" How much was your down payment? And your closing costs? How much was your loan for? If you don't want ... [snip!] ... don't want to give actual values, what percentage of your loan was due for your down payment? And closing costs? Thaaankyou."</blockquote>




Closing costs are your lawyer so whatever your lawyer will charge. If you are buying the home you don't pay the realtor fees only the seller does. As for down payment we only had to put down 5% which is the lowest that you can go. Which 5% is on what you are paying for the house.

<blockquote><b>Quoting Mom of Tristan/Rayah +1:</b>" <blockquote><b>Quoting Mayhem.:</b>" How much was your down payment? And your closing ... [snip!] ... down payment we only had to put down 5% which is the lowest that you can go. Which 5% is on what you are paying for the house."</blockquote>


That's crazy, down payments here can be lower, I'm pretty positive!

<blockquote><b>Quoting Mayhem.:</b>" <blockquote><b>Quoting Novelidea:</b>" Most of the time the down payment will be 3% ... [snip!] ... of what you're buying it for. And the sellers pay the closing costs."</blockquote> I thought we pay the closing costs?!"</blockquote>




If you are paying the closing costs your getting screwed. That's up to the owners of the house you are buying.

<blockquote><b>Quoting Mayhem.:</b>" <blockquote><b>Quoting Mom of Tristan/Rayah +1:</b>" <blockquote><b>Quoting ... [snip!] ... on what you are paying for the house."</blockquote> That's crazy, down payments here can be lower, I'm pretty positive!"</blockquote>




We are only allowed to go 5%. We have different laws then you with the percentage with CMHC.

<blockquote><b>Quoting Mom of Tristan/Rayah +1:</b>" <blockquote><b>Quoting Mayhem.:</b>" <blockquote><b>Quoting Novelidea:</b>" ... [snip!] ... If you are paying the closing costs your getting screwed. That's up to the owners of the house you are buying."</blockquote>

We're not! Not buying until summer. I just didn't know  

Quoting Mayhem.:" For buying a house. How much was your down payment? And your closing costs? How much was your loan for? ... [snip!] ... don't want to give actual values, what percentage of your loan was due for your down payment? And closing costs? Thaaankyou."

Our DP for our $250k house was $7500 and our closing costs were $9000.

<blockquote><b>Quoting Mayhem.:</b>" <blockquote><b>Quoting Mom of Tristan/Rayah +1:</b>" <blockquote><b>Quoting ... [snip!] ... up to the owners of the house you are buying."</blockquote> We're not! Not buying until summer. I just didn't know  "</blockquote>




Ok! Just make sure you phone lots of lawyers and ask fees before you decide on a lawyer.

Quoting Novelidea:" Most of the time the down payment will be 3% of what you're buying it for. And the sellers pay the closing costs."

Nope, not always. You can have that agreement, but your loan will be higher. Basically you up the purchase price of what the closing costs will be.

Quoting Mayhem.:" <blockquote><b>Quoting Novelidea:</b>" Most of the time the down payment will be 3% ... [snip!] ... of what you're buying it for. And the sellers pay the closing costs."</blockquote> I thought we pay the closing costs?!"

You shouldn't really ever have to pay the closing costs. When negotiating it is costumary for the sellers to pay at least $4-5k.

Sometimes, if the mortgage insurance company isn't happy with your credit, you will be required to put more down.

Quoting Mom of Tristan/Rayah +1:" <blockquote><b>Quoting Mayhem.:</b>" <blockquote><b>Quoting Novelidea:</b>" ... [snip!] ... If you are paying the closing costs your getting screwed. That's up to the owners of the house you are buying."

Maybe in CA but that is not how it works in the US.

Quoting Mayhem.:" <blockquote><b>Quoting Mom of Tristan/Rayah +1:</b>" <blockquote><b>Quoting ... [snip!] ... up to the owners of the house you are buying."</blockquote> We're not! Not buying until summer. I just didn't know  "

Look at this site! It is soooo helpful! Jammony.com

Quoting Party of FIVE!:" Nope, not always. You can have that agreement, but your loan will be higher. Basically you up the purchase price of what the closing costs will be."

This can be true, and may be for the most part. I'm not sure. The last time we bought a house, the sellers paid $5000 of closing costs and was not rolled into our loan.