We work with buyers on a regular basis and help them to determine how much they can afford. One of the biggest misconceptions is that you must have a 20% down payment. Depending on your debt, assets, income, and credit score, you could be eligible for a 3-3.5% down payment.
Down Payments can vary depending on loan type:
- Conventional Loan: 3% or higher
- FHA Loan: 3.5% or higher
- VA Loan: 0% or higher
Tune in to our quick video for more details on each of these programs.
If you’re thinking about purchasing a home, the first step is to get in touch with a lender so that you can understand how much you can afford. Call us today and we can help!
Coldwell Banker United, REALTORS® – Metropolitan
Katie Day, REALTOR®
2 Greenway Plaza #150 Houston, TX 77046