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Down Payment Information for California Home Buyers

We’ve written about down payments in California many times in the past. On this page, you’ll find links to some of our best articles relating to mortgage loan down payment requirements, guidelines, minimum required investments, and related topics.

At a glance: Down payment requirements vary based on the type and size of the loan you’re using. Conventional loans offer down payments as low as 3%, for some borrowers. The FHA loan program requires 3.5% down. VA loans (available to military members and veterans) offer 100% financing with no down payment whatsoever. Borrowers can often use gift money from a third party, to put toward their investment.

Down Payment Articles on Our Blog

Note: If you have a question that’s not featured below, be sure to use the search tool located above. Our blog contains several hundred articles geared toward home buyers in California. So you’re bound to find the information you seek.

California Down Payment Requirements
This article is a great place to start, because it gives you a general overview of the down-payment requirements for California home buyers. It covers all of the major types of mortgage loans and programs, including FHA, VA and conventional financing. You could start with this article, and then explore the other topics below as needed.

Average Down Payment on a House
The average down payment for a home purchase in California can changes from year to year, mainly due to fluctuations in home prices. Additionally, different mortgage programs require different investments. So it can vary. In this article, we will take a look at the current average down payment amount for several key thresholds.

How the Down Payment Process Works
What is a down payment, exactly? When do you have to pay it? Does it get applied to the purchase price later on in the home buying process? ¬†And what can you do if you can’t afford a big upfront investment? You will find answers to these and related questions in this helpful article for home buyers.

Why Some Borrowers Put 20% Down
You’ve probably heard about the 20% down payment for a home purchase. While this type of investment is not always required, many home buyers choose to put 20% down. They do this for several reasons, including to avoid paying private mortgage insurance. In this article, we will explain why some people choose to make an investment of 20% when buying a house.

How It Affects Mortgage Insurance
If you choose to make a smaller down payment when buying a house in California, you will probably have to pay for some type of mortgage insurance. This is true for conventional loans, as well as government-backed mortgage programs like FHA. In this article, we will examine the relationship between down payments and private mortgage insurance (PMI), as it relates to you as a home buyer.

Can I Buy a House With 5% Down?
Many of our past clients have asked if they can buy a house in California with just 5% down. This is a common question among first-time buyers in particular, who often lack the funds needed for a larger down payment. The short answer is yes, it’s possible to buy a house with an investment of 5% (or even less). This article explores the topic in more detail.

FHA Down Payment Requirements
The Federal Housing Administration (FHA) loan program allows home buyers in California to purchase a house with as little as 3.5% down. In this article, we will explore some of the basic requirements that have to be met, in order to qualify for this relatively low investment threshold.

Low Down Payment Options
Budget-minded home buyers with limited funds in the bank often look for ways to minimize the upfront costs associated with a home purchase. This article explains some of the low down payment options that are available for borrowers in California. The key takeaway is that eligible borrowers can buy a house with as little as 3% down, using a conventional loan. FHA loans also allow for a relatively small investment.

Have a Question About Down Payments?

The articles above have been provided to help you learn more about the basic down payment requirements in California. If you have additional questions that are not covered above, or if you would like to apply for a loan, please contact our staff.

Located in the San Francisco Bay area, Bridgepoint Funding serves borrowers all across the Golden State. We can answer any down payment questions you might have, and also pre-qualify you for a mortgage loan. We look forward to hearing from you!

Mike Trejo

Mike Trejo is a Bay Area mortgage broker with 20+ years of knowledge and experience.

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