# What’S The Minimum Down Payment On A House

### Contents

The down payment is a number derived from the purchase price. If you buy the house for \$600,000, your required minimum down payment is a percentage of that price.

When the purchase price is above \$500,000, the minimum down payment is 5% for the first \$500,000 and 10% for the remaining portion. Normally, the minimum down payment comes from your own resources. However, a gift of a down payment from an immediate relative is acceptable for dwellings of 1 to 4 units.

However, even as Trump was talking tough at the White House, his administration moved to soften the. "The vast majority of.

Most people have to borrow money in order to afford a house. No matter how big your mortgage is, though, you generally need to have at least some cash on hand for the down payment. Historically the rule was that homebuyers should make a down payment worth 20% of the home value. That’s a great.

Suppose the purchase price of your home is \$600,000. Your minimum down payment will be 5% on the first \$500,000, for a total of \$25,000. On the remaining \$100,000, your minimum down payment will be 10%, for a total of \$10,000. Add both totals together and your minimum down payment would be \$35,000.