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Down payment question...

My husband and I would like to purchase our first home soon. credit scores are 740 & 670. We only have $3k to put down and our income is about $90k. Do we need to come up with a larger down payment? by sarahlarn179 from San Antonio, Texas. 27 days ago Reply


Jason Cattell (jason@cattellinc.com)
#225 ranked lender in Texas - 1 contribution

I can help you see if you qualify for a USDA or other no money down loans. Feel free to text me at 409.466.4310L. Jason CattellThe Mortgage Department 409.466.4310

27 days ago
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,000 contributions

Possibly.. For USDA, you can purchase with Zero down.. if the sellers agree to give you a closing costs credit, you can purchase with hardly any cash out of pocket. For conventional, you can do 3% down.. So on a $100K home, you only need $3000. But you will still have closing costs.. again, if the seller agrees, they can give you a credit.. FHA requires 3.5% down, so on a $100K home, $3500 is needed.. but same applies to closing costs.. VA is 100% financing, But you must have VA benefits to qualify.. and same applies regarding closing costs.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

27 days ago
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It would depend on how much home you're looking for, proveable income, and home location. There are many programs out there. I have a program that allows for 1% down. There's also USDA @ 0 down in certain areas as well as VA loans if you qualify as military active duty or veteran. Feel free to reach out if you'd like to discuss. 210-325-2369. Clay Mallory or you can text "Houston" to 32620 to get my app and we can chat mobile. Which ever makes you most comfortable. Hope that helps

27 days ago
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