Latest Down Payment Requirements

Here are the latest down payment requirements for various types of loans in Colorado.  

For conventional (non-government) loans:

• 5% down for a primary residence (3% is allowed, but the rates are higher and the mortgage insurance is higher)
• 10% down for second homes 
• 20% down for investment properties

For FHA loans (primary residences only):

• 3.5% down - can be a gift from a relative of the borrower

For CHFA loans (primary residences only):

• $1,000 minimum investment by the borrower - can be a gift from a relative of the borrower

VA loans (primary residences only):

• 0% down

Getting a loan approved is easy - if you know what to do.  The Mortgage Experts know what to do!!!

Make sure you check out our web site:

www.mtgsupportservices.com

By the way, don't forget to refinance your current mortgage.  Rates are very, very low right now.  Don't miss out!  Call us today to get the details for your particular situation.

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