Buy A House With No Down Payment Or A Small One


– Hey guys, Austin Schneider here. Today we’re going to talk about some low down payment options for ya. So around 90% of first time home buyers think that you need 10% or
more in order to buy a home. Truth is, you’re in luck
because there are plenty of options out there for you
that are not requiring this. There’s even options for as low as 0% down which is a USDA loan, a VA loan, or a FHA if you’re getting a down payment from a relative or an eligible donor. Other programs that require
a smaller down payment, 3-5% which can be a FHA
loan, a Conventional 97 loan, or the Fannie Mae HomeReady Loan. There are some advantages
to a more mid-sized down payment, around 10%, you could avoid private mortgage insurance as well as your monthly payments are
just gonna be smaller. Some programs that require 10% are your piggyback mortgage and just your standard conventional loan. So don’t be discouraged if you don’t have that 10% or more. We mapped out all of
the different programs in our bio so feel free to click the link and you will see more on this. So stay tuned for the next video and we’ll see you next time. (upbeat music)

Leave a Reply

Your email address will not be published. Required fields are marked *