Asked by Anonymous

The formula for calculating the down payment on an FHA loan for a property sold for $265,000 would have a down payment of $______.

Answers

Answered by Ms. Sue
"The down payment amount is calculated by multiplying the home purchase price times 3.5 percent, or 0.035."

http://homeguides.sfgate.com/much-down-payment-required-fha-loan-3075.html
Answered by Anonymous
Oh, okay, so it would be $265,000(0.035)=$9,275

Thanks for the link too.

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