Do you have plans to buy a new home this year? If so, you're probably thinking and saving for a down payment, but how much do you need? There are many loan options, and you may not need 20%.
Conventional Loans
Have you heard of Fannie Mae or Freddie Mac? These are the companies that provide conventional home loans. If your credit score is in good shape, you'll only need to put 3% down on your new home.
FHA Loans
Are you a first-time homebuyer? Then, an FHA loan might be a good option for you. Generally, you could put as little as 3.5% down.
VA Loans
If you're a veteran or currently active military, your service is appreciated. Getting a VA loan doesn't require a down payment.
USDA Loans
USDA Loans are backed by The US Department of Agriculture's Rural Development Program. These loans are for rural and suburban homebuyers. Check with your lender for income and loan requirements if you feel this is the right loan for you.
We work with incredible lenders that can help. If you're ready PM for a free consultation. You can contact us directly at 239-284-8637 or by email: Abby@teamstiller.com