Cash is best, of course. But if you are financing, the pecking order in terms of buyer financing (from an ability to conclude the transaction) is this:
- Large down payment, conventional financing.
- 20 percent down payment, conventional financing.
- Minimal down payment, VA or FHA financing
- Seller financing
Other ways to put your best financial foot forward are:
- Include a preapproval letter, not a prequalification letter with the offer.
- Include a check with the purchase agreement.
Make the earnest money check substantial.