Navigating the decision of how much to put down on your new home can be daunting, but at MPS Mortgage, we simplify the process for you. Whether you're a first-time buyer, investor, or someone with less-than-perfect credit, we offer low down payment options tailored to your situation and preferences.
These loans are designed to make homeownership more accessible by requiring a lower initial down payment, allowing individuals who may not have significant savings to enter the housing market.
Discover low down payment options for homeownership. An FHA loan requires just 3.5% down, but mortgage insurance is required on conforming loans with less than 20% down. The USDA loan demands no down payment for rural buyers, with potential PMI. Veterans can benefit from a VA loan with no down payment and up to 100% financing. Non-conforming mortgage programs offer 80/20 set-ups, allowing a second mortgage for the 20% down payment. At MPS Mortgage, we customize solutions for your homeownership dreams.
Understanding low down payment options is crucial. While they may lead to higher monthly payments, they offer advantages like minimal upfront costs, higher property appreciation, and the ability to use cash for other investments. Here, we help you make informed decisions aligned with your financial goals.
Consult with our experienced loan specialists to devise a customized solution that aligns with your unique needs and budget. We'll guide you through the pros and cons, ensuring you make an informed decision that paves the way for a successful homeownership journey. We're here to turn your homeownership dreams into reality—talk to us today.