Choosing a down payment can be a tough decision, but we’re here to make it easier. Our flexible options are designed to fit your financial situation and homeownership goals.
Key Considerations for Low Down Payments:
1. Down Payment Options:
Purchase with as little as 3%–3.5% down on conventional or FHA loans.
VA Loans: Military veterans and service members may qualify for 0% down.
Non-conforming loans may offer creative options like 80/20 setups.
2. Costs of Lower Down Payments:
Mortgage Insurance: Required for down payments under 20%.
Higher Loan Amounts: Leads to increased monthly payments.
Interest Rates: May be slightly higher for smaller down payments.
3. Benefits of Lower Down Payments:
Liquidity: Keep more cash on hand for emergencies or investments.
Leverage Your Investment: Home appreciation is the same, regardless of the down payment.
Opportunity Cost: Use available funds for other income-generating investments.
4. Personal Considerations:
Choose a monthly payment that aligns with your comfort level, not just lender qualifications.
Explore options to minimize or eliminate mortgage insurance over time, such as refinancing.
Why Choose Low Down Payment Options?
Low down payment programs are ideal for buyers seeking to:
Purchase a home sooner with less upfront cash.
Invest funds elsewhere while still achieving homeownership.
Take advantage of programs tailored to specific needs (e.g., VA or FHA loans).
Take the Next Step!
Consult with one of our loan originators to explore the best low down payment solution for your unique financial situation. Start your homeownership journey today!
Calculate your monthly payment for fixed rate or adjustable rate loans.