Low Down Payment Mortgage Options

Today’s Arizona Mortgage market offers homebuyers several different low down payment mortgage options.  From 0% down and up, Phoenix area buyers have several different low down payment mortgage options to choose from when purchasing a new home.  Below is a brief outline of the different down payment options opens in a new windowThe HOUSE Team offers:

0% Down Mortgage Options:

USDA Home Loan:

A opens in a new windowUSDA Home loan allows a buyer to purchase a home with 0% down AND without having to pay monthly mortgage insurance.

  • Buyer must meet specific USDA income requirements (see link below to see income guidelines)
  • Property must be eligible for a USDA home loan (see link below to find out if a property is eligible for USDA financing)
  • Click opens in a new windowHERE for more details on an Arizona USDA Mortgage

VA Home Loan:

A opens in a new windowVA Home loan allows a qualified veteran to buy an Arizona home with a 0% down payment.

3% Down Mortgage Option:

3% Down Payment Conventional Mortgage

Qualified homebuyers now have an option to put as little as 3% down on the purchase of a primary residence in Maricopa County.

  • Buyer must meet guidelines and will be required to pay mortgage insurance
  • There are Conventional loans with down payments from 3% and up

3.5% Down Mortgage Option:

FHA Mortgage

An opens in a new windowArizona FHA home loan offers buyers the option to put 3.5% down on a primary residence purchase.

5% on up Down Payment Mortgage Options:

Conventional Loans from 5% – 20% Down;

Arizona home buyer’s have the option to purchase a home and putting between 5% to 20% down on a primary residence.

  • Buyer must qualify
  • There are options with less than 20% down that enable the buyer to avoid paying monthly mortgage insurance

To learn more about your low down payment mortgage options contact The HOUSE Team today:  Team Phone: 602.435.2149  Team Email: Team@JeremyHouse.comcreate new email.

 

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