Down Payment |
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Programs requiring no down payment may sound like a dream come true, but the interest will be about 2% higher than what you’d pay at 20% down. The best interest rate can be obtained with at least 20% down. If you are a first-time buyer, which is defined as someone who hasn’t owned property within the past three years, you may qualify for state-backed programs that feature lower down payment requirements and below-market interest rates. Let us help you find a LA home |
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We at Valerie Fitzgerald and Associates realize that you are in the information gathering stage of your purchase and we respect your privacy. Should you have any questions, please feel free to email us at info@valeriefitzgerald.com or call us directly at 310-285-7515. If you or anyone you know is looking to buy or sell a home, please note that we can provide detailed information and access to:
You can count on the services of Valerie Fitzgerald and Associates to provide you with information you can trust
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The amount of money a person puts into a home as the down payment varies. Some lenders offer programs that require as little as 5% down or even zero down. An example of these programs is Fannie Mae’s three-two loan program, which gives a first-time buyer 95% of the price of a home. The buyer is required to supply 3% of the down payment; the other 2% can be a gift from the family, a government program, or a nonprofit agency.
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