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.
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.