Do I Need a Down Payment?
One of the myths of the mortgage industry is that it is very hard to get a home loan without having a large down payment . This is simply not true.
There are several loan programs available today with flexible terms and low or even NO down payment requirements. To see our loan comparison chart, click here. The required down payment will depend upon the specific loan type that you qualify for or that you choose based on what’s best for your financial situation.
Also, most of our programs that require a down payment will allow the required amount to be in the form of a gift from a relative. Part of your local mortgage professional's job is to make sure you are aware of all of your options so that you can choose the one that best suits your individual needs.
Your personal mortgage advisor can develop a game plan for you that will allow you to be prepared and informed to move forward with confidence with the best loan program for you. That may include a down payment or it may not. Either way, we can put the plan in place so the process is smooth from the start.