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WebFeb 21, 2024 · Multiply your home's value ($350,000) by the percentage you can borrow (85% or .85). That gives you a maximum of $297,500 in value that could be borrowed. Subtract the amount remaining on your ... WebWhen you purchase a home, the first payment you make is your down payment — a percentage of the total amount you owe, which is due at closing. For example, if you purchase a $250,000 home and make a 20% down payment, you would bring $50,000 to your closing. Mortgage lenders require a down payment to protect themselves if you default on … tmc channel schedule tv schedule
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