Many buyers think they need 20% for a down payment, but most Phoenix buyers put down much less.
Can you believe that you could buy your Dream Home for as little as 3️⃣% Down Payment⁉️ The most common myth in the home buying process is that you need 2️⃣0️⃣% down – that’s only true in certain circumstances! Contact me ☎️ and I’ll put you in touch with amazing lenders who will get you pre-qualified! 💵
Typical Down Payment Options
VA and USDA loans can require 0% down for eligible buyers, conventional loans can start at 3% for qualified buyers, and FHA loans start at 3.5%. Putting down 20% on a conventional loan avoids private mortgage insurance, but it is not required to buy.
Besides your down payment, plan for earnest money, inspections, appraisal and closing costs, which often run a few percent of the price. Some buyers negotiate seller credits to help with those costs.
Talk with a lender to see what fits your budget, then see my buyer resources to start your search.
