My husband and I looking to buy a home and we are first time home buyers and going to look for single family home as a primary household. We don’t have much money at the moment saved up…with rent and 2 children it’s a little hard to save. We do have some money in savings and heard of 3 percent down mortgages What I want to know which banks offer this and what other cost are there attached to it besides closing costs
Hi CJ! 3% down payment mortgages are definitely available. The most flexible low down payment mortgage is an FHA mortgage. It’s also flexible when it comes to your credit.
First thing you need to do is speak with a reputable direct lender. They’ll ask you lots of questions – about income, assets, credit, payment you’re comfortable with – and be able to tell you how much home you can afford. Then you can start house hunting!
Feel free to contact me directly through my profile if you have any other questions. I’ll include some links for FHA and to mortgage pre-qualification calculators and payment calculators. Hope it helps – best of luck!
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