Home Buying Series Do I Need a Down Payment?

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One of the biggest misconceptions surrounding buying a home is that you must have a 20% down payment. This is completely false, and I have a FREE guide that proves it! While most down payment assistance programs carry income maximums and minimum credit scores, many of them still prove to be very attainable to the average homebuyer.

Another misconception is the recognized definition of a first-time homebuyer. According to the U.S. Department of Housing and Urban Development, a first-time homebuyer is anyone who has not owned a home in three years. It is important to note that not every program follows HUD guidelines, and that some programs only require that you not own any other property at the time of the new purchase.

There are quite a few down payment options to choose from, but not every program may be the right fit for you. To learn more about each program and which would be best for your financial profile, schedule a complimentary buyer consultation today!