Top 4 Posts Regarding Down Payment Requirements

Top 4 Posts Regarding 

Down Payment Requirements    

      It happened again ...  

     "It" meaning a call from a hopeful home buyer thinking they needed a full 20% down payment to buy a home. 

     First, let me correct this home buying misconception ...

     You DO NOT have to have a 20% down payment to buy a home!  

     Multiple options exist that can help you become a home owner with a "minimal" down payment ... or with NO down payment, in certain cases.  

     I view this as a very important message and topic.  As a result, I've written on the topic of down payments more than a few times: 

• What are the Requirements to Qualify for a Home Loan Today?
• Downpayments: Sometimes It's Good to Find Out You're Wrong
• You Don't Need a 20% Down Payment to Buy!
• It's True! Programs DO Exist for Little or NO Money Down Financing

     The posts above provide info regarding down payments, but they also offer info on good options for home buyers that don't have the mythical 20% down payment figure.  

     

     

     The following information is FACT:
      
     Home buying can currently be accomplished with the following down payment options:

• NO Down Payment Loans  

      
      *  USDA Loans 
      *  VA Loans 
      *  Specific regional down payment assistance programs also exist

• 3% Down Payment financing options exist 

      * Conventional Loans - Fannie Mae's 3% Program offers Interest Rates and Mortgage Insurance premiums that are competitive to FHA's 

• 3.5% Down Payment Option

      *  FHA Loans (Federal Housing Administration) 

            

     Bottomline:  Should you be dreaming of buying a home, contact me to get the facts as they pertain to YOUR personal financial scenario.  

     Don't rely on info received via "the grapevine".  Don't rely on the media or dated internet info.  Don't let friends, family, and others influence you, talk you into non-action, or squash your dreams.  

     Contact me.  It's the only way to know for sure what is possible for you and what is not ... 

*  Hoping to Buy or Refinance a home in Chicagoland, IL, WI?  Contact me now!

Gene Mundt
Mortgage Originator  -  NMLS #216987  -  IL Lic. #031.0006220  -  WI Licensed

American Portfolio Mortgage Corp.

NMLS #175656

Direct:  815.524.2280

Cell/Text:  708.921.6331

eFax:  1.815.524.2281

gmundt@goapmc.com

www.genemundt.com

 

              

     

Gene Mundt, Mortgage Originator, an Originator with 40+ years of mortgage experience, will offer you exemplary mortgage service and advice when seeking:  Conventional, FHA, VA, Jumbo, 
USDA, and Portfolio Loans in Chicago 
and the greater Chicagoland region, including:  

The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL & WI. 

Your Referrals are Greatly Appreciated and Welcomed!