Calling all first time homebuyers! Buying a house has become so much more attainable than before! There are programs with as little as 0% down!
There are so many options out there when it comes to financing the purchase of your new home! Here is a little information on different loan options:
Conventional
This is the most basic type of loan that you can get. Your standard 20% down is typically a conventional loan. However, many first time home buyers can qualify for only 3% down for a conventional loan! There are some requirements in order to qualify for low down payment options, of course, including a great credit score and taking a first time homebuyer class.
FHA
This is a loan that is backed by the Federal housing administration. You can put down as little as 3.5% with an FHA loan as long as your credit score is above a 580. This is a great option to have!
VA
Any veterans out there? If yes, thank you for your service! There is a loan out there made especially for you. If you are serving or have served, you could be eligible for a VA loan with as little as 0% down!
USDA
You can also put as little as 0% down with a USDA loan! This type of loan is guaranteed by the US Department of Agriculture and is offered to buyers in certain rural areas (including many towns in Southern NH). There are income and credit requirements.
There are also grants available out there to help with down payments! And tax credits that you could be taking advantage of each year!
I would love to elaborate more, call or text me with questions! Every property is different, so the type of loan can vary for sure! I'd be happy to set you up with a great lender that can match you with the best loan option based on your situation! Once you get set up with financing, your home search can truly begin!
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