Let The Feds Lower Your Down Payment
Posted by
admin 1 September, 2009
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Want to buy a home, but don’t have much cash?
Two government programs can ensure you make the smallest possible down payment.
You can still get 100% financing if you can qualify for a VA loan. And you’ll only have to pay 3.5% of the purchase price with an FHA loan.
These are mortgages where the government promises to repay the bank if you default. With guarantees like that, banks are able to take on borrowers they might have rejected on charged a much higher interest rate.
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Categories : Mortgage Rates
