How Much Do I Really Need for a Down Payment?
If you’re looking to purchase a home, you may be wondering if you really need to come up with the full 20% to put as your down payment. Although with conventional financing, most lenders will want 20% down, there is still hope if you need to bring that number down.
An FHA loan is going to be the best place to start your search, offering financing with as little as 3.5% down. This can help alleviate the barrier of needing to save up your full 20% down payment, in order to move into a home. This can be especially helpful to first-time home buyers! Conventional lenders may also be able to go with as little as a 3% down payment, however generally it is between 5 and 20% that is required.
Contact Us Today!
In order to see what you could qualify for today, use our handy pre-approval tool! At Avanti Way Financial, we’re here to help you every step of the way through your home buying process.
