It's possible to buy a property with as little as 3% down, and maybe with no money down if you qualify for a VA or a USDA mortgage.
Buying a home is more obtainable than you think, and having little down payment doesn't need to hinder your homeownership plans.
Click Here to contact me today to learn more about your options and to get started with qualifying for a low-rate mortgage today!
Minimum Down Payment Requirements By Loan Type
Conventional loan requirements vary by lender. Some lenders require 5% down, while others only need 3%. Often higher credit scores give you the opportunity for a lesser amount of down payment.
You'll need at least a 3.5% down payment for an FHA loan plus a credit score of 580 or higher. If your credit score is less than that, you'll need at least 10%.
VA loans don't require a down payment. However, some other requirements to determine your eligibility.
Like a VA loan, you don't need a down payment for a USDA loan. However, to qualify, the home must be located in an approved rural or suburban area, plus your household members must also meet specific income requirements.
Click Here to contact me today today to learn more about your options and to get started with qualifying for a low-rate mortgage today!