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Mortgage Resources / Mortgage Basic

Buying vs. Renting a House Buying vs. Renting a House Buying vs. Renting a House Buying vs. Renting a House

Buying vs. Renting a House

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How much you need for a down payment depends on the type of loan and how much the house costs, but the more you can put towards a down payment, the lower your monthly payment can be and the more you'll save on interest. Conventional loans typically require a down payment of at least 5% of a home's price. FHA loans require as little as 3.5%.

Along with your down payment, you'll have to pay closing costs, or fees associated with processing and securing your loan. These can vary depending on the price of the house and the type of mortgage, but estimate between 2% and 5% of the home's value.

How much you need for a down payment depends on the type of loan and how much the house costs, but the more you can put towards a down payment, the lower your monthly payment can be and the more you'll save on interest. Conventional loans typically require a down payment of at least 5% of a home's price. FHA loans require as little as 3.5%.

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Our Interfirst rep was always easy to reach when we needed help fast. When issues came up, and we had a number of them, from home repairs to changing lenders, she guided us through the process and we felt like VIP

Samantha W., Estes Park, CO

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Highly recommend Interfirst for your refi. So patient and helpful with me - I knew nothing about what I was doing. They always explained everything and made time to walk me through the ins and outs. We also got an great rate! I would work with them again. A+

Zola J., Lafayette, LA

Client

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Our whole home buying experience with our Interfirst agent was amazing. She made us feel confident about our decision, and she laid the path to our home owning success. she was patient and genuinely wanted us to succeed. Her response time was impeccable and thank you! for taking the stress off the experience. We will for sure be recommending you.

Carlo M., Rockford, IL

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