“Your Down Payment, Demystified—The Real Estate Queen’s Guide”

When buyers hear the word "down payment," they often picture a massive chunk of cash—but what is it really? And where does it go?

Let’s clear the confusion using my Five-Star Approach:Quality. Understanding. Excellence. Efficiency. No-Nonsense.

Understanding the Down Payment

A down payment is the portion of the home’s purchase price you pay upfront. The rest is typically covered by a mortgage loan. For example, if you’re buying a $400,000 home with a 5% down payment, you’ll need $20,000.

Where Does the Money Come From?

Down payments can come from:

• Your savings

• A gift from a family member (with proper documentation)

• Down payment assistance programs (which I help buyers navigate)

• Retirement funds (some buyers tap into their 401(k) or IRA with guidance)

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How Much Do You Really Need?

That depends on your loan:

• FHA loans: as low as 3.5% down

• Conventional loans: 3% to 20% or more

• VA & USDA loans: often require no down payment

  
  

Not every situation is one-size-fits-all. That’s why I take time to help you find the right loan and the right down payment plan—no nonsense, just solutions.

What's Included in the Total Funds Needed?

Besides the down payment itself, buyers often need to budget for:

• Closing costs (2–5% of the home price)

• Prepaid expenses like homeowners insurance and property taxes

• Reserves, which some lenders require to prove you can afford future payments

  
  

The Queen's Final Word

I believe in helping my clients make informed moves. Your down payment doesn’t have to drain your savings or delay your dream. With the right guidance, you can buy smart—and buy with confidence.

Ready to explore your options? call me at 702-291-7098.Let’s build wealth together—one smart move at a time.