Articles on: Applying with Beeline

How much down payment do I need?

It’s a ‘how long is a piece of string?’ question, as it depends on the type of loan and the purchase price of your home — but here goes…

The minimum you’ll need for a primary residence is at least 3% of the home’s purchase price for a down payment. For an investment property, you'll need a minimum of 20% down.

Then for closing costs, work on a rough 2% to 3% of the purchase price. If you have those numbers, then you’re in the game.

Updated on: 16/08/2022