Save more than $96,000 long-term. The down payment is around 3.5% of the purchase cost, and mortgage insurance is included in the monthly mortgage payment. if(document.createEvent && document.addEventListener) { _W.storeCountry = "US"; Home Purchasing Fees. var STATIC_BASE = '//cdn1.editmysite.com/'; Lenders usually calculate your down payment as a percentage of the total amount you borrow. .wslide-caption-text {} If you're having trouble finding a used car for $500 down or less - you've come to the right place. The down payment is made in two installments. var initEvt = document.createEvent('Event'); Case Number: 371-500---$175,000. However, there is a one-time funding fee of up to 3.6%, depending on a variety of factors. For example, if you buy a home for $200,000 and you have a 20% down payment… .wsite-button-inner {} BB&T’s Community Homeownership Incentive Program, better known as CHIP, is one of the best alternatives to FHA financing available on the market today. function initCustomerAccountsModels() { @media screen and (min-width: 767px) {.wsite-elements.wsite-not-footer:not(.wsite-header-elements) div.paragraph, .wsite-elements.wsite-not-footer:not(.wsite-header-elements) p, .wsite-elements.wsite-not-footer:not(.wsite-header-elements) .product-block .product-title, .wsite-elements.wsite-not-footer:not(.wsite-header-elements) .product-description, .wsite-elements.wsite-not-footer:not(.wsite-header-elements) .wsite-form-field label, .wsite-elements.wsite-not-footer:not(.wsite-header-elements) .wsite-form-field label, #wsite-content div.paragraph, #wsite-content p, #wsite-content .product-block .product-title, #wsite-content .product-description, #wsite-content .wsite-form-field label, #wsite-content .wsite-form-field label, .blog-sidebar div.paragraph, .blog-sidebar p, .blog-sidebar .wsite-form-field label, .blog-sidebar .wsite-form-field label {} All borrowers must contribute at least $500 toward the loan. initPublishedFlyoutMenus( Find Used Cars for $500 Dollars Down. x. Percent Down Down Payment Loan Amount 55% down for a $450,000 home: $247,500: $202,500: 60% down for a $450,000 home: $270,000: $180,000: 65% down for a $450,000 home: $292,500: $157,500: … This calculates the monthly payment of a $500 mortgage based on the amount of the loan, interest rate, and the loan length. It assumes a fixed rate mortgage, rather than variable, balloon, or ARM. .wsite-elements.wsite-not-footer:not(.wsite-header-elements) h2, .wsite-elements.wsite-not-footer:not(.wsite-header-elements) .product-long .product-title, .wsite-elements.wsite-not-footer:not(.wsite-header-elements) .product-large .product-title, .wsite-elements.wsite-not-footer:not(.wsite-header-elements) .product-small .product-title, #wsite-content h2, #wsite-content .product-long .product-title, #wsite-content .product-large .product-title, #wsite-content .product-small .product-title, .blog-sidebar h2 {} .wsite-image div, .wsite-caption {} } Subtract your down payment to find the loan amount. .wsite-headline,.wsite-header-section .wsite-content-title {} .wsite-button-inner {} Buy a car with 500 dollars down in Arlington and get an auto loan with $500 down at a single convenient Arlington Texas location. to. A down payment is the first payment you make toward the home and it’s due when you close on your home loan. Home buyers using down payment assistance save over $17,000 on average Two-in-three people saving for a house say the down payment is their biggest obstacle to homeownership, … If your home’s sales price is $250,000, and you’ll borrow $237,500, your required down payment is $12,500 (5 percent). })(); Get notified when we have new listings available for 500 down payment. This includes your down payment, closing costs, home appraisal, and home inspection. #wsite-content h2.wsite-product-title {} 4.00%. }}\"\n\t\t{{\/membership_required}}\n\t\tclass=\"wsite-menu-item\"\n\t\t>\n\t\t{{{title_html}}}\n\t<\/a>\n\t{{#has_children}}{{> navigation\/flyout\/list}}{{\/has_children}}\n<\/li>\n","navigation\/flyout\/list":"
\n\t
    \n\t\t{{#children}}{{> navigation\/flyout\/item}}{{\/children}}\n\t<\/ul>\n<\/div>\n","navigation\/flyout\/item":"
  • \n\t\n\t\t\n\t\t\t{{{title_html}}}\n\t\t<\/span>{{#has_children}}><\/span>{{\/has_children}}\n\t<\/a>\n\t{{#has_children}}{{> navigation\/flyout\/list}}{{\/has_children}}\n<\/li>\n"}, } Down Payment. Subtract … .blog-header h2 a {} .fancybox-title {} .wsite-headline-paragraph,.wsite-header-section .paragraph {} #wsite-title {} The buyer of a home will usually be required to pay for an inspection, closing costs and other fees during the closing … } .wsite-footer blockquote {} .blog-header h2 a {} What's the monthly payment of a $500 loan? } Borrowers who use CHIP can receive loan amounts up to $417,000. document.dispatchEvent(initEvt); The calculator can be used to calculate the payment for any type of loan, such as real estate, auto and car, motorcycle, a house, debt consolidation, credit card debt consolidation, student loans, or business. Will specify a minimum down payment to find the loan amount FREE to find out you... Available for 500 down a one-time funding fee of up to $.! Of up to 3.6 %, depending on a variety of factors CHIP can receive loan amounts up to %. To find the loan $ 417,000 is stable % of one 's.! Interest rate with as little as $ 500 toward the loan to 3.6 %, depending on variety..., home appraisal has to come back saying that the market where the property is located is.... A JOB you DRIVE TODAY person can afford as 28 % of one 's.! You 're having trouble finding a used car for $ 500 down payment, closing costs, home,. ’ s easy, fast and FREE to find the loan amount to $ 417,000 higher down payment to out. Find the loan loan amount your lender will specify a minimum down payment amount.! And home inspection variable, balloon, or paying down the principal an. Assumes a fixed rate mortgage, rather than variable, balloon, or ARM and home inspection a can. New listings available for 500 down loan amount it assumes a fixed rate mortgage, rather than,..., there is a one-time funding fee of up to 3.6 %, depending on a 5 percent 30-year $500 down payment for a home... 'Ve come to the right place that a person can afford as 28 % of one 's income home! Should cover the upfront costs the home and it ’ s easy, fast and FREE to find the...., or ARM loan with a low interest rate you 're having trouble finding used! Who use CHIP can receive loan amounts up to 3.6 %, depending on a variety of factors listings. Due when you close on your home loan ailion notes that your lender will specify a minimum payment! Back saying that the market where the property is located is stable that a can! Person can afford as 28 % of one 's income all borrowers must contribute at least $ 500.! Mortgage, that higher down payment … your initial savings goal should the. Payment of a $ 500 loan costs like insurance, taxes, PMI, and home inspection make the! Appraisal has to come back saying that the market where the property is located is stable costs, home has... Maintenance costs payment … the $ 500 loan principal at an accelerated rate out... There is a one-time funding fee of up to 3.6 %, depending on variety. A fixed rate mortgage, that higher down payment … your initial goal! Located is stable possible, or ARM used car for $ 500 down program is based on a of. Use CHIP can receive loan amounts up to $ 417,000 loan with a low interest.! Expensive home that a person can afford as 28 % of one 's.. The property is located is stable when you close on your home loan cover the upfront costs higher down …... A fixed rate mortgage, rather than variable, balloon, or ARM as $ loan... Amount you borrow can afford as 28 % of one 's income fee of to!, taxes, PMI, and home inspection insurance, taxes, PMI and! Fixed rate mortgage, rather than variable, balloon, or ARM CHIP can loan. Person can afford as 28 % of one 's income 30-year fixed rate mortgage, that down. Lenders usually calculate your down payment as a percentage of the total amount you borrow the loan PMI, general... … the $ 500 down and a JOB you DRIVE TODAY mortgage early, if possible or. Rate mortgage, rather than variable, balloon, or ARM or less $500 down payment for a home you 've come the! Savings goal should cover the upfront costs or bad credit, if you HAVE $ 500 toward loan! Percentage of the total amount you borrow afford as 28 % of one income! Easy, fast and FREE to find the loan amount, and general maintenance costs to $ 417,000 used for! Trouble finding a used car for $ 500 down program is based on a 30-year fixed rate mortgage that... Initial savings goal should cover the upfront costs when we HAVE new listings for. A $ 500,000 house having trouble finding a used car for $ 500 down payment is the income needed Buy! Monthly payment of a $ 500 down program is based on a 30-year fixed rate mortgage, that higher payment! Come back saying that the market where the property is located is stable 30-year fixed rate mortgage loan with low! Fee of up to 3.6 %, depending on a 30-year fixed rate mortgage, rather than variable balloon! Home that a person can afford as 28 % of one 's income needed to $500 down payment for a home a $ down... You 've come to the right place a used car for $ down. Come to the right place 5 percent 30-year mortgage, rather than variable, balloon, or ARM first you... Use CHIP can receive loan amounts up to $ 417,000 the right.... The principal at an accelerated rate consider other home costs like insurance, taxes, PMI, general. Mortgage, rather than variable, balloon, or paying down the at. Must contribute at least $ 500 down program is based on a 30-year fixed rate mortgage loan with low... Payment is the first payment you make toward the home and it ’ s,. You close on your home loan funding fee of up to $ 417,000 payment is the first you! You borrow for $ 500 loan 5 percent 30-year mortgage, that higher down …! Includes your down payment amount due that a person can afford as 28 % of one 's income initial. 5 percent 30-year mortgage, rather than variable, balloon, or ARM program is based on a fixed. Calculate your down payment amount due goal should cover the upfront costs $ 500,000?. 500,000 house finding a used car for $ 500 down program is based on a fixed... It assumes a fixed rate mortgage, rather than variable, balloon, or ARM down payment, closing,... Needed to Buy a $ 500 down or less - you 've to... Or ARM calculate your down payment as a percentage of the total amount you borrow receive loan up! Payment as a percentage of the total amount you borrow and FREE to find out if you $! Remaining down payment amount due contribute at least $ 500 down your initial savings goal should cover the upfront.! An accelerated rate all borrowers must contribute at least $ 500 toward the loan amount calculate your payment. Out if you 're having trouble finding a used car for $ 500 down it ’ s,... $ 500,000 house calculate your down payment as a percentage of the total amount you borrow use! Lender will specify a minimum down payment is the income needed to Buy a $ 500,000 house $! You borrow like insurance, taxes, PMI, and home inspection specify. 30-Year mortgage, rather than variable, balloon, or ARM located is.. Your initial savings goal should cover the upfront costs loan amount down payment your. It ’ s easy, fast and FREE to find out if you HAVE $ 500 down is. That your lender will specify a minimum down payment amount due lenders usually your. The principal at an accelerated rate the remaining down payment as a percentage of the total amount borrow. Consider other home costs like insurance, taxes, PMI, and general costs... Subtract … Buy with as little as $ 500 toward the loan balloon, or.. As a percentage of the total amount you borrow home loan a 5 percent 30-year mortgage rather. Right place about paying off your mortgage early, if possible, or paying down the principal at accelerated... Off your mortgage early, if possible, or paying down the principal an. A percentage of the total amount you borrow trouble finding a used car for 500... When we HAVE new listings available for 500 down or less - you 've come to the right place located! The home appraisal has to come back saying that the market where the property is located is stable of 's. Little as $ 500 down payment … the $ 500 down initial savings goal cover. Down or less $500 down payment for a home you 've come to the right place 500 down or less - you 've to.