Well, I Closed several transactions within the past 30 days, and you might be surprised to learn that the down payments of these purchases ranged from just 3.5% down (FHA loan) up to 20%+ (conventional loan). Although some lending requirements have changed over the past few years, there are still lots of options for you if you don’t want to make a large down payment. Here are a few:
1.) FHA : most of my clients over the past year have purchased their homes using an FHA-insured loan. These loans feature a 3.5% down payment. So, that’s just $3,500 on a $100K purchase, for example.
2.) VA and USDA : Both offer zero down payment programs. Of course, you and/or the property you’re purchasing must qualify for the terms of these programs, but they’re a great fit for some borrowers.
3.) Conventional : these mortgage loan programs still offer loans with as low as 5% down payment, and they’re common in today’s market.
The above are the most commonly-used programs, but there are others. What's the key? Engage a solid mortgage loan officer to help you evaluate your options and walk you through the process. I work with some amazing pros that get the job done for my clients every day. Give me a shout and I’ll connect you with them.
If home ownership this year is your goal, contact me. We will create a solid plan to move you from Point A to Point B – it’s what I love doing! Have an awesome day, everyone!
As a REALTOR with JP and Associates, John Brooks is passionate about helping his clients navigate the current real estate market to their Point B destination with the least amount of disruption possible. Access his expertise by emailing email@example.com or hit his website, www.johnbrooks-realtor.com. His mobile is 972-693-5658 if you'd like to call or text.
Author:Chad Gabriel Phone: 817-471-7358 Dated: May 1st 2013 Views: 2,065 About Chad: I have been a DFW resident for the past 20 years and have lived in many different areas of the metro...
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
If you are interested in a new career in real estate or already have a real estate license but wish to learn more about our company please contact us directly to set up an interview. We offer our agents a 100% commission plan, company leads, training and mentoring and coaching from TOP Producers with no office, desk fees or monthly marketing fees ever. We are a full service brokerage at a transaction fee cost.
At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations.
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