Is the Idea of a Down Payment Holding You Back?

Happy New Year! I hope that 2022 is off to a wonderful start for you and your family! Do you have plans to buy a new home this year? If so, you’re probably thinking about and saving for a down payment… but how much do you need? There are many loan options, and you may not need 20%.


Conventional Loans

Have you heard of Fannie Mae or Freddie Mac? These are the companies that provide conventional home loans. If your credit score is in good shape, you’ll only need to put 3% down on your new home.

FHA Loans

Are you a first-time homebuyer? Then, an FHA loan might be a good option for you. Generally, you could put as little as 3.5% down.

VA Loans

If you’re a veteran or currently active military, your service is appreciated. Getting a VA loan doesn’t require a down payment.

USDA Loans

USDA loans are backed by the U.S. Department of Agriculture’s Rural Development Program. These loans are for rural and suburban homebuyers. Check with your lender for income and loan requirements if you feel this might be the right loan for you.


That’s just a brief idea of the loans that allow you to save a little cash upfront. Of course, a mortgage professional will help to find the best option for you. I work with incredible lenders that can help. If you’re ready, give me a call or text. I’d be happy to help you with your move!

~ Patti Crowley – Realty One Group – 480.286.6400

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