Buying a Home with a Small Downpayment (FHA, Conventional, VA Loans)

Buying Real Estate

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Ever heard that you need 20% to buy a home? Well, that’s the number most of us grow up thinking we need – In this video, I show you guys why that’s outdated thinking, and why you DO NOT need 20% down to purchase a house.

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In fact, the average downpayment for new home buyers is 6% and for home buyers in general is 11%. So nothing close to 20%!

There are many loan programs out there that cater to these types of buyers:

1. FHA Loan (3.5% down)
2. Conventional Loan (3.5% down)
3. VA Loan (0% down)

Each of these loans goes as low as the numbers I posted, so you can see that you only need about 3% for most buyers!

Anyways, I think it’s a great way to buy a home if you’re waiting on building up that 20% down payment and that’s the only thing stopping you from buying now. If your income is sufficient to support the mortgage payment, these programs let you buy now instead of later.

Thanks for watching!

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#BUYINGAHOME #DOWNPAYMENT #REALESTATE

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