203k loan down payment

What is the 203k loan down payment requirement?

The minimum down payment on a 203k loan is 3.5%. The down payment is calculated as follows:

Purchase price $200,000 + $100,000,000 renovation costs = $300,000.

The minimum down payment is 3.5%.

$300,000 X 3.5% = $10,500

You might be surprised to know that the 203k down payment requirement can be paid for by gift funds provided by a family member, borrower’s employer or even a close friend!