There are many loan products available to you that don’t require you to put down 20%.
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As a homebuyer, what kind of mortgage options are available to you? What kind of down payment should you expect to make?
Contrary to popular belief, you don’t need to put 20% down to purchase a home. According to Gail Hillman of Waterstone Mortgage, there are many other options out there.
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A conventional loan, for instance, only requires you to put 3% down. There are also programs that only require 5%, and another program that requires 15% down without any mortgage insurance. Jumbo loans, too, are available for purchases over $458,000.
You have many loan options out there.
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Waterstone also offers a special loan product that doesn’t require any money down and allows you to buy up to $650,000. It’s a portfolio product that they keep in-house, but they’d love to share it with anyone looking to buy a home.
If you’re looking to purchase a home and want to know more about your mortgage options, feel free to call Gail at (972) 200-3253.
If you have any other real estate questions, don’t hesitate to reach out to me. I’d be happy to help you.
