Buying a home?

You May Not Need a 20% Down PaymentThinking about buying a home but worried about saving up a 20% down payment? The good news is that the traditional 20% down payment is no longer a requirement for many buyers. Today, there are numerous loan programs available that allow for much smaller down payments, making homeownership more accessible than ever before.
Loan Programs with Lower Down PaymentsHere are some popular loan options that can help you buy a home without needing 20% upfront:

1. FHA Loans – Backed by the Federal Housing Administration, these loans typically require as little as 3.5% down and are ideal for first-time buyers or those with lower credit scores.
2. Conventional Loans with PMI – Some conventional loans allow down payments as low as 3%, though private mortgage insurance (PMI) may be required.
3. VA Loans – If you’re a veteran or active-duty military, VA loans offer the incredible benefit of no down payment required, with competitive interest rates.
4. USDA Loans – Available in rural and suburban areas, USDA loans also require no down payment and offer affordable financing for qualified buyers.

Keep More Money for Other ExpensesSmaller down payments mean you can keep more of your savings for other important home-buying costs, such as:

• Closing Costs – Cover the administrative and legal fees involved in your home purchase.
• Moving Expenses – Pay for movers, trucks, and other relocation costs.
• Home Repairs or Updates – Set aside money for renovations or personal touches to make your new house feel like home.

Take the First Step Toward HomeownershipDon’t let the myth of needing 20% down hold you back from buying your dream home. At Heartland Financial & Mortgage, we specialize in helping buyers explore loan options that fit their unique needs and budgets.
Call or text me today to discuss your goals and find out which loan programs could work for you. Let’s make your homeownership dream a reality!

---