{"id":3639,"date":"2021-06-14T22:12:00","date_gmt":"2021-06-14T22:12:00","guid":{"rendered":"https:\/\/www.fmloans.com?p=3639"},"modified":"2023-09-14T20:24:44","modified_gmt":"2023-09-14T20:24:44","slug":"determining-your-down-payment-amount","status":"publish","type":"post","link":"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/","title":{"rendered":"Determining Your Down Payment Amount"},"content":{"rendered":"\n<p>Are you interested in purchasing a home, but are unsure how much you are able to pay for a down payment and wondering how much money you will be required to put down? When it comes to buying your own home, this is one of the most common concerns amongst potential homebuyers. If you are interested in purchasing a home in Knoxville, Maryville, Lenoir City, Oak Ridge, or Gatlinburg, Tennessee, and want to learn more about how much you should pay for a down payment, contact the loan specialists at Foundation Mortgage. We can help you determine the best down payment and home financing options for your unique situation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #3c78d8;\"><span style=\"font-size: large;\">Home Down Payments: Essential Information<\/span><\/span><\/h2>\n\n\n\n<p>A <a href=\"https:\/\/www.fmloans.com\/loan-options\/down-payment-assistance\/\">down paymen<\/a>t is the amount of money you pay upfront when you close on your home loan. The down payment you make represents your investment in the property, and the lender will then provide the rest of the money so that you can buy the home. The amount you pay for the down payment will affect your interest rates, subsequent monthly mortgage payment amounts, and will determine if you need to pay private mortgage insurance or not. Most mortgages will require a down payment, but in certain cases, a down payment may not be required, (for instance no down payments are required on VA and USDA loans).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #3c78d8;\"><span style=\"font-size: large;\">How Much Do I Need for a Down Payment? <\/span><\/span><\/h2>\n\n\n\n<p>The amount you will pay for your down payment will depend on the <a href=\"https:\/\/www.fmloans.com\/loan-options\/\">type of loan<\/a> you choose and the price of the home you are interested in. There are several advantages to paying a 20% down payment, because you will have better interest rates, lower monthly mortgage payments, and you will not be required to pay private mortgage insurance. However, if a borrower is not able to make a 20% down payment, there are still opportunities to purchase a home with a lower down payment. The down payment you pay will depend on the lender\u2019s requirements and your credit score. Here are some common loan types that require less than a 20% down payment:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Certain <a href=\"https:\/\/www.fmloans.com\/loan-options\/conventional-home-loans\/\">conventional loans<\/a> \u2013 You may be able to qualify for a traditional home loan with a down payment as low as 3%<\/li>\n\n\n\n<li><a href=\"https:\/\/www.fmloans.com\/loan-options\/fha-home-loans\/\">FHA loans<\/a> \u2013 these loans offer a down payment of 3.5% and have more lenient qualifying credit requirements<\/li>\n\n\n\n<li><a href=\"https:\/\/www.fmloans.com\/loan-options\/va-home-loan\/\">VA<\/a> and FHA loans \u2013 For qualified borrowers, a down payment is not required for these loan types<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #3c78d8;\"><span style=\"font-size: large;\">Understanding Your Down Payment on a Home<\/span><\/span><\/h2>\n\n\n\n<p>There are several factors that will determine how much you will need to pay for the down payment of your home. If you want to learn more about what you will be expected to pay for a down payment in Knoxville, Maryville, Lenoir City, Oak Ridge, or Gatlinburg, Tennessee, contact Foundation Mortgage today for a consultation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you interested in purchasing a home, but are unsure how much you are able to pay for a down payment and wondering how much money you will be required to put down? When it comes to buying your own home, this is one of the most common concerns amongst potential homebuyers. If you are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3412,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-3639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Determining Your Down Payment Amount - Foundation Mortgage l Knoxville TN Home Loans<\/title>\n<meta name=\"description\" content=\"Figuring out how much you want to put down is a common concern among home buyers. Learn more about down payment amounts from Foundation Mortgage Company.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Determining Your Down Payment Amount - Foundation Mortgage l Knoxville TN Home Loans\" \/>\n<meta property=\"og:description\" content=\"Figuring out how much you want to put down is a common concern among home buyers. Learn more about down payment amounts from Foundation Mortgage Company.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/\" \/>\n<meta property=\"og:site_name\" content=\"Foundation Mortgage l Knoxville TN Home Loans\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-14T22:12:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-14T20:24:44+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3\"},\"headline\":\"Determining Your Down Payment Amount\",\"datePublished\":\"2021-06-14T22:12:00+00:00\",\"dateModified\":\"2023-09-14T20:24:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/\"},\"wordCount\":466,\"publisher\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#organization\"},\"articleSection\":[\"blog\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/\",\"name\":\"Determining Your Down Payment Amount - Foundation Mortgage l Knoxville TN Home Loans\",\"isPartOf\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#website\"},\"datePublished\":\"2021-06-14T22:12:00+00:00\",\"dateModified\":\"2023-09-14T20:24:44+00:00\",\"description\":\"Figuring out how much you want to put down is a common concern among home buyers. Learn more about down payment amounts from Foundation Mortgage Company.\",\"breadcrumb\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/integrumresources.com\/fmloans\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Determining Your Down Payment Amount\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#website\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/\",\"name\":\"Foundation Mortgage l Knoxville TN Home Loans\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/integrumresources.com\/fmloans\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#organization\",\"name\":\"Foundation Mortgage l Knoxville TN Home Loans\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png\",\"contentUrl\":\"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png\",\"width\":1040,\"height\":254,\"caption\":\"Foundation Mortgage l Knoxville TN Home Loans\"},\"image\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/integrumresources.com\/fmloans\"],\"url\":\"https:\/\/integrumresources.com\/fmloans\/author\/webadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Determining Your Down Payment Amount - Foundation Mortgage l Knoxville TN Home Loans","description":"Figuring out how much you want to put down is a common concern among home buyers. Learn more about down payment amounts from Foundation Mortgage Company.","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Determining Your Down Payment Amount - Foundation Mortgage l Knoxville TN Home Loans","og_description":"Figuring out how much you want to put down is a common concern among home buyers. Learn more about down payment amounts from Foundation Mortgage Company.","og_url":"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/","og_site_name":"Foundation Mortgage l Knoxville TN Home Loans","article_published_time":"2021-06-14T22:12:00+00:00","article_modified_time":"2023-09-14T20:24:44+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/#article","isPartOf":{"@id":"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/"},"author":{"name":"admin","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3"},"headline":"Determining Your Down Payment Amount","datePublished":"2021-06-14T22:12:00+00:00","dateModified":"2023-09-14T20:24:44+00:00","mainEntityOfPage":{"@id":"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/"},"wordCount":466,"publisher":{"@id":"https:\/\/integrumresources.com\/fmloans\/#organization"},"articleSection":["blog"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/","url":"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/","name":"Determining Your Down Payment Amount - Foundation Mortgage l Knoxville TN Home Loans","isPartOf":{"@id":"https:\/\/integrumresources.com\/fmloans\/#website"},"datePublished":"2021-06-14T22:12:00+00:00","dateModified":"2023-09-14T20:24:44+00:00","description":"Figuring out how much you want to put down is a common concern among home buyers. Learn more about down payment amounts from Foundation Mortgage Company.","breadcrumb":{"@id":"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/integrumresources.com\/fmloans\/determining-your-down-payment-amount\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/integrumresources.com\/fmloans\/"},{"@type":"ListItem","position":2,"name":"Determining Your Down Payment Amount"}]},{"@type":"WebSite","@id":"https:\/\/integrumresources.com\/fmloans\/#website","url":"https:\/\/integrumresources.com\/fmloans\/","name":"Foundation Mortgage l Knoxville TN Home Loans","description":"","publisher":{"@id":"https:\/\/integrumresources.com\/fmloans\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/integrumresources.com\/fmloans\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/integrumresources.com\/fmloans\/#organization","name":"Foundation Mortgage l Knoxville TN Home Loans","url":"https:\/\/integrumresources.com\/fmloans\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/","url":"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png","contentUrl":"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png","width":1040,"height":254,"caption":"Foundation Mortgage l Knoxville TN Home Loans"},"image":{"@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/integrumresources.com\/fmloans"],"url":"https:\/\/integrumresources.com\/fmloans\/author\/webadmin\/"}]}},"_links":{"self":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts\/3639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/comments?post=3639"}],"version-history":[{"count":2,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts\/3639\/revisions"}],"predecessor-version":[{"id":8860,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts\/3639\/revisions\/8860"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/media?parent=3639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/categories?post=3639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/tags?post=3639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}