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Looking for Real Estate in Santa Fe? What is the best down payment on a home?








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Looking for Real Estate in Santa Fe? What is the best down payment on a home?

If you are contemplating buying a home in Santa Fe, you might have some questions about the down payment, and where to find the money for one, at the lowest cost to you.

Ask your Agent if they know about any housing incentives, grants or loans, but be careful.  Some options can have serious consequences in terms of taxes and penalties, so be sure to do your homework.

Here are some ideas for pulling together the money you need for a down payment:

  • Pull from savings
  • Liquidate some assets
  • Sell some stock
  • You could put 10% down of your own money, and pay private mortgage insurance
  • 20% down with the help of a 10% family loan or gift
  • Borrow 10% from your 401(k)
  • Ask your employer – some corporations , universities and local governments have programs to help with down payments
  • Grants and loans from the government
  • Seller financing

There are pros and cons to all of these options, but at the end of the day, a family gift or loan is your best option.


It’s a great time to buy in Santa Fe and I am an experienced Santa Fe REALTOR®, who can help you find the home of your dreams.  Let’s talk about what down payment option is best for you, and discuss what neighborhood you would like to live in.  We represent a wide variety of properties from historic estates, quaint vacation condominiums, beautiful parcels of vacant land……….
Take a look at what we have currently and if the perfect property isn’t there you can search the entire MLS on the “Search” page of this site.

Give me a call (505)780-0310, or send me an email and we can discuss which option is best for you.  On my home page, in the upper right corner, you will see an “email me” link.

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