When buying a home, most people will need to get a loan. However, how much of a down payment will you need to put down to get certain loans?
You’ve got many different options. The first is a VA loan, which is a loan for active and former military servicemen and women. This loan gives back to those who defend our freedom by offering them a 0% down loan on amounts over $600,000.
The next product is the FHA loan. This loan is backed by the government and allows the buyer to purchase a home with just 3.5% down here in San Diego. This loan opens a lot of doors to traditional first-time homebuyers. You can get a great rate, get into the home you want, and start building equity.
“FHA loans are backed by the government.”
Finally, you have some conventional hybrid programs. One example is the 80-10-10, which lets you buy a more expensive home by combining an 80% conventional loan with another 10% loan.
To learn more about how you can buy a home today without investing much money up front, give us a call or send us an email. We would love to help you out.
