Despite what social media or any marketing source out there says, in today’s market in California it’s an advantage to have a minimum of 3-5% for a down payment.  The down payment can come from different sources such as down payment assistance, gift funds, personal funds, retirement funds, gift of equity, home equity, and from a variety of sources. Contact a local mortgage broker for alternate sources of down payment and requirements. The minimum down payment allowed by most lenders is 3%-5% of the purchase price of a house. 

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