You may need just a little help in getting a home. You don’t want to over extend your budget, but you just need some help with a down payment or a low-interest loan to really give you the confidence that buying a home is right for you.
There are also many down payment programs to assist qualified buyers, especially first-time home buyers that have helped thousands of people responsibly start of the road to homeownership. So many people are unaware of these programs. You no longer need to be…
Need help with your down payment?
Most first-time home buyers don’t have 20% of the cost of their home for a down payment.
Government loan guarantee programs, which can offer loans with lower down payments are offered by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the Department of Agriculture’s Rural Housing Service (RHS). Each program has its own requirements.
In some cases you can get a FHA loan for as little as 3.5% down. There are VA and RHS loans that don’t even require down payments.
Many time first-time homebuyers don’t realize you can use up to $10,000 from your IRA to purchase your first home. In many cases you can get gifts or loans from family members as long as you disclose the information to the lender. More down payment help here at home for the first-time home buyer