You May Not Need as Much as You Think for Your Down Payment

Some Highlights

• Many people believe you need to put down 20% of the purchase price when you buy a home. But recent homebuyers actually put down far less on their purchase.
• And with programs like FHA loans, VA loans, and USDA loans, some qualified buyers are able to put down as little as 0-3.5%.
• Let’s connect to make sure you have a trusted lender and can find out if you’re ready to buy a home sooner rather than later.

Many people still believe that a 20% down payment is necessary when buying a home, but the reality is that recent homebuyers have been putting down far less. In fact, many are taking advantage of special loan programs designed to make homeownership more affordable and accessible.

For example, FHA loans, which are backed by the Federal Housing Administration, allow qualified buyers to put down as little as 3.5%. VA loans, available to eligible veterans and active-duty military members, often require no down payment at all. Additionally, USDA loans, designed for rural and suburban homebuyers, offer 100% financing, meaning you may not need to put down anything upfront.

These programs can make a huge difference in helping you become a homeowner sooner. With lower down payment options, you can keep more cash in your pocket for other expenses, such as moving costs or home improvements. Plus, it may make it easier to start building equity and taking advantage of tax benefits sooner rather than later.

Let’s connect so we can make sure you have a trusted lender on your team. We’ll explore the loan options that fit your situation, help you determine how much you’re qualified to borrow, and figure out if you’re ready to buy your dream home now rather than waiting longer. You might be closer to homeownership than you think!