Buying a home is a major step in your life, but it can also be an expensive one. Even with incredible credit, having a down payment will likely be needed to secure a good loan with a decent interest rate. Even many government programs like FHA loans will require a down payment – though in some cases it could be as low as 3.5% down. However, there are several options out there for down-payment assistance, and they could help you secure the loan that you're looking for without you having to spend years saving up for a down payment.
There are mortgage lenders that specialize in first time home buyer programs, down-payment grants, and finding them is the first step towards the process. There are a few things that can help you find these lenders:
For some, it can seem like owning a home is an impossible dream. Luckily, numerous programs have been designed to help make it possible. If you're serious about owning a home and meet some basic criteria, you might qualify for down payment assistance. These programs have helped countless people get into their homes, so keep the points above in mind and you may be surprised to find that securing a solid loan isn't impossible in the least.
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