HOW TO BUY A HOUSE WITHOUT A DOWN PAYMENT

hi everyone I am here today to talk about down payments needed to buy a house. I know that a lot of people think that you need 20% down and that is absolutely not true. here in the Phoenix market we have loan opportunities available for first time homeowners with as little as zero down. that's right zero down. there's also options to have sellers pay closing costs in some areas so you can literally purchase a house with no down payment or closing cost expense. another great option is the VA loan which is available for anybody who has served in the military. VA loans are available with zero down as well up to $1 million. okay so if you're not a veteran and you're not a first time home buyer what options do you have right? conventional loans start at 3% down which is fantastic and FHA loans which are government insured loans start at three and a half percent down. now the magic number still is 20% down because that's where you eliminate the mortgage insurance payment on there but just because you don't have 20% down doesn't mean you can't buy a house. mortgage insurance is a small amount that's added to your monthly payment no big deal and a lot of times once you reach that 80% loan to value threshold you can even get that mortgage insurance taken away. so if you are curious about how much you would need to purchase a home give us a call we'd love to help