Saving for a down payment on a home can seem like a daunting task! School loans. Karate lessons for the kids. Saving for retirement. All of these things can make it hard to carve out extra $$ each month to save. Well never fear. There are loan programs available to get you into a home with a very, very, low down payment. While FHA loans typically require a 3.5% down payment, through a special loan program, qualified borrowers can purchase a home with as little as a .5% down payment.
What does this mean? Let’s look at the numbers. The typical FHA down payment on $200,000 home is $7,000. The down payment on the same home using the .5% percent down FHA Mortgage loan program would be $1000! Did you also know that we can negotiate to have the seller pay most, if not all, of your closing costs? Sweet!
If you or someone you know is interested in purchasing a home, give us a call at (480) 447-2199
. Let’s chat about what’s holding you back. We may have a solution.