Many people may not be aware that you can buy a home with as little as 3% down. It’s true! And not only that, it’s a conventional loan (as opposed to FHA or VA). Historically, conventional loans have required as much as 25% down.
Thanks to our Agency Portfolio Conforming Program, first time home buyers are able to accept gift funds from family members and put as little as 3% down on the purchase of their first home.
To help give you a better idea of what this would cost you, let’s say you were interested in purchasing a $200,000 home and your FICO credit score is 720+. With a 3% down payment on a conventional loan, your monthly payment would be $1375.
Interested in learning more? Contact my office at 702.331.8185 for more info.
