What does it take to qualify for a home?
According to recent data, an overwhelming majority of Americans still believe a large down payment and an exceptional credit score are required to buy a home. In reality, there is a wide range of options for first-time homebuyers. Let’s explore some…
I need a 20% down payment to buy
We have loans at 3% and 3.5% down. A 20% down payment is typically only required for conventional loans.
I need excellent credit to buy a home
We have options for scores as low as 620!
I won’t qualify for assistance
There are multiple national and state down payment assistance programs with credit score requirements as low as 620 and some income maximums nearing $90k
I have to settle for a less desirable home
Renovation loans are available for as little as 3.5% down and allow for improvement costs to be included in the loan
I don’t have a lot of options
FHA Loans – 3.5% down with a 620 score
VA Loans – No down payment
USDA Loans – No down payment
203k Renovation Loan – 3.5% down
Conventional 97 – 3% down
100% financing options available
With this knowledge, use our interactive calculator to figure out how much you would actually need to qualify for a home! Interactive failed to load
Contrary to popular belief, it is actually easier to qualify for a home loan than you think! Contact your local loan officer today to discuss what financing options might be right for you!