It doesn't take 20% down to buy a home!

Surprisingly, most buyer's I am talking to (8 out of 10 buyer's I speak with are first time home buyer's) think that it will take a MUCH LARGER down payment to buy a home than is actually required.  I regularly hear from prospective buyer's that they believe they need a down payment of 20%, or at least 10%, to buy a home.

Minimum down or ZERO down home loans are available!

Regular FHA loan financing: Through a short introduction of financing options which are currently available, I give prospective buyer's the good (GREAT!) news that FHA requires only a 3.5% down payment!  For FHA financing you don't have to be a first time home buyer! 

The minimum down payment money for FHA financing can come from several sources:

• With tax refund time around the corner, sizable refunds are common.
•  Parents or grandparents can gift the down payment and all that has to be done is to ask (or beg them) for a gift of down payment money.
• Maybe 401k money is tucked away and these funds can be accessed through a 401k loan.

FHA ZERO down loans: State Funded Programs allow for ZERO down payment if the first time home buyer has a better credit score than what is required for regular FHA loans.  ZERO down loans are only available to first time home buyer's (or to VA eligible buyer's).

FHA minimum down and FHA ZERO down programs are helping buyer's to buy homes that are "on sale" and finance the purchase at all time low interest rates!