Low Down Payment Loan Options

Buying your first home can seem overwhelming! And how much $ do you have to have to buy a home? There is NO way you can save enough to make it happen- Right?? Some people may have the wrong idea on how much money you really need to buy a home! There are some different loan options in Utah to consider-

FHA- 3.5 % down will get you into this loan!

VA- for active duty, veterans, & other qualified citizens this is a no money down loan!

USDA-If you are willing to live in specific areas of Utah- you can use a USDA loan! These have limited funds each year, so you want to move on them quickly.

Conventional- if you are OK with mortgage insurance, some of these are as low as 3% down!

This article has more info!

https://www.bankrate.com/finance/mortgages/4-mortgages-that-require-little-money-down-1.aspx

Mortgages are changing all the time, so the best bet is to talk to a lender about qualifying & your best options! 🙂 Your goals & needs may vary, so what is best for you may be different than what you think!

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