You’re in the market for a new home, but you don’t have tens of thousands of dollars saved for a down payment. Sound familiar? It’s a common situation for many Americans. Fortunately, there is a range of mortgage options that allow for a low down payment. Here, we’ll explain two popular programs: Fannie Mae’s 3% down payment program and Federal Housing Authority (FHA) loans.
Before you make a decision about something as important as your home mortgage, it’s imperative to understand the different down payment assistance programs that are available. If you are in the market for a new home and interested in low-down-payment options, we would love to help. Contact us to learn more.