• Red Oxen Bloggers

Alternative Home Loans

Updated: Mar 27

If saving enough for a 20% down payment will delay your home buying dream for years, you should consider your alternate options:

  1. An FHA Loan The Federal Housing Administration, or FHA, insures loans for qualified first-time homebuyers. With FHA backing, lenders can offer you a loan at a low interest rate with as little as 3.5% down.

  2. VA Loans Qualified military veterans can obtain a mortgage with zero down payment, thanks to a program administered by the Department of Veterans Affairs (VA). Like an FHA loan, a "VA loan" is a federally insured loan that's issued by a traditional financial institution, like a bank. These loans don't require any down payment, and as a bonus, the buyers don't need to pay PMI either – making them an even better deal than FHA loans.

Check out Know Your Mortgage from our Home Buyer Guide

If you're interested in learning more about these programs or other options for down payment assistance, please give me a call today. Together we can figure out a way to make your dream of homeownership a reality.

#fha #valoan #mortgage #downpayment


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