Most people looking to find a home struggle with figuring out the down payment. You have a couple options. First, if you are moving into a home within the limits of a FHA Loan then you could manage to purchase a home for only 3% down. Second, if you are Veteran, there are VA loans that offer low down payment options. Third and the most commonly used option is getting money gifted to you from friends and family. Each of these scenarios has pluses and minuses including some precautions that need to be taken. Saying that, do not feel that you are without options. The best thing to do is to consult a qualified mortgage consultant to go over the best way to finance your first home purchase. I’m Karen, your Mortgage Genie, helping you find the home of your dreams.
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