Are you getting ready to purchase a home? Have you saved the 20% down that everyone has been telling you that you need? Well good news. You don’t need to save 20%. As a matter of fact, and the past 12 months over a million home buyers, just like you, purchase a home with less than 10% down.
That’s right, less than 10%.
There are many programs available which will allow you to buy it with as little as 3% down. And if you’re a veteran, you may qualify for your veteran benefits and this allows you to purchase a house with no down payment. And if you can get the seller to pay some or all of your closing costs, that’s even less cash you need to come up with.
Is this a great country or what?
However not everything is quite as rosy as it may seem. There are still some qualifications. You’ll need to have a good credit history built up. Not great, but at least good. And you’ll need to have the income in order to qualify under the federal guidelines for this mortgage. But many people in this country are able to qualify.
So if you’ve been trying to save up that necessary 20% down, you don’t need quite that much anymore. Speak with a mortgage professional and they’ll be able to give some guns as to whether not you can qualify for a mortgage, and if yes, the let you know what you can afford to spend on a house.
And then call us, we can help you find your dream