If you're planning to buy a home in Santa Clarita, Valencia, Saugus, Newhall, Stevenson Ranch, Canyon Country or Castaic, your down payment is one of the biggest financial pieces. But how much do you really need?
The answer depends on your loan type, price range, and goals. Here’s what local buyers should know.
Typical Down Payment Options
- 20%: Ideal for avoiding mortgage insurance, but not required
- 5%–10%: Common for conventional loans
- 3.5%: FHA minimum down payment
- 0%: VA and USDA loans (eligibility applies)
For a $700,000 home in Santa Clarita:
- 20% = $140,000
- 10% = $70,000
- 3.5% = $24,500
Do You Need 20% Down?
Not necessarily. Many buyers in SCV purchase with less—especially first-time buyers using FHA or down payment assistance.
Just keep in mind:
- <20% often requires PMI (private mortgage insurance)
- Lower down payments may come with higher interest rates
Local Tip: Leverage Equity Wisely
If you’re selling and buying in Santa Clarita, your existing equity can serve as your down payment on the next home.
Need Help Crunching Numbers?
I work closely with trusted local lenders who can break down your options and help you prepare your budget.
Have questions about down payments in Santa Clarita? Reach out for a buyer consultation—and follow me on social for more real estate tips.
Ready to make your next move in Santa Clarita?
Contact Tami Cicerello with The Cicerello Team at RE/MAX Of Santa Clarita — your local real estate expert with 36+ years of experience helping sellers and buyers reach their goals.
661–212–3413| TamiCicerel
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Written by Tami Cicerello, REALTOR® and local real estate expert serving Santa Clarita, Valencia, Saugus, Newhall, Stevenson Ranch, Canyon Country and Castaic.