Buying a new home is a dream to many Americans, but it’s often one that goes unfulfilled for a variety of reasons. For first-time buyers, it’s the down payment that proves to be the biggest obstacle standing in the way of home ownership.
Home ownership with a small down payment is possible with the right loan
Most standard home loans require a down payment of 20 percent of the home’s selling price. However, it can take years to save up the cash required for such a down payment. Between paying rent, building up emergency funds and saving for retirement or college tuition, putting away an additional $40,000 for a $200,000 home can be a daunting task.
A large down payment shouldn’t stand between you and future home ownership. Fortunately, there are plenty of options available that can help you get one step closer towards the home of your dreams.
There are plenty of home loans available that make home ownership easier to achieve. Many of these loans offer down payment options that significantly lower your down payment. Once you qualify for a home loan of this type, you won’t have to worry about paying tens of thousands of dollars up front.
Federal lenders have recently launched several home loan programs to assist first-time homeowners. These programs help potential buyers by lowering their down payments by as much as 3 percent. There are even programs available to help you get into your new home with no money down and reasonable rates throughout the life of the loan.
With the right loan, you won’t have to spend years putting away a down payment for the home you want today. Garrett-Walker Homes is proud to offer affordable solutions for home buyers, whether it’s your first time buying a new home or if you’re relocating and need another place to call home.
Unique Solutions for New Home Buyers
No two households are alike and neither are the solutions they need. Our expert team of mortgage specialists will work with you to find the ideal minimum down payment loan that works for your unique set of circumstances. Once we’ve found a loan that’s right for you, we can help you make the move towards home ownership.
Realizing your dream of owning a home becomes much easier when you qualify for a home loan with minimum down payment. Contact the Garrett-Walker team today to get started on the road to home ownership.
Exclusive to Garrett Walker Homes when using our Preferred Lender you may be eligible for $500 down payment program available at select communities.
To learn more about what options may be available please contact a Garrett Walker Homes team member using our Contact Us tab.