What does it take to qualify for a home?

According to recent data, an overwhelming majority of Americans still believe a large down payment and an exceptional credit score are required to buy a home. In reality, there is a wide range of options for first-time homebuyers. Let’s explore some…

Myth #1

I need a 20% down payment to buy

Your options

We have loans at 3% and 3.5% down. A 20% down payment is typically only required for conventional loans.

Myth #2

I need excellent credit to buy a home

Your options

We have options for scores as low as 620!

Myth #3

I won’t qualify for assistance

Your options

There are multiple national and state down payment assistance programs with credit score requirements as low as 620 and some income maximums nearing $90k

Myth #4

I have to settle for a less desirable home

Your options

Renovation loans are available for as little as 3.5% down and allow for improvement costs to be included in the loan

Myth #5

I don’t have a lot of options

Your options

FHA Loans – 3.5% down with a 620 score

VA Loans – No down payment

USDA Loans – No down payment

203k Renovation Loan – 3.5% down

Conventional 97 – 3% down

100% financing options available

With this knowledge, use our interactive calculator to figure out how much you would actually need to qualify for a home! Interactive failed to load

Contrary to popular belief, it is actually easier to qualify for a home loan than you think! Contact your local loan officer today to discuss what financing options might be right for you!

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