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What Are My Down Payment Options for New Homes?

What Are My Down Payment Options for New Homes?

Buying a new home is very exciting. Besides selecting the perfect neighborhood and making sure you get the best house for you and your family, there are lots of financial things to take into consideration. One of the most important things to plan for is your down payment. Home loans come in all shapes and sizes. Let’s go over the most common top three options borrowers choose.

Down Payment Option One – 3.5%

One of the least expensive ways to get into a new home is by taking advantage of an FHA (Federal Housing Administration) government loan.