For many of us, scrimping and saving for a down payment can be a real burden. When talking to new clients, it’s surprising how many believe it is still necessary to save 20% down which was the industry standard. Luckily, FHA offers home loans with as little as 3.5% down, but there is even better news for some borrowers. Because many borrowers have the ability to pay their monthly bills on time, but have trouble saving the 3.5% down required for some home loans, we are happy to offer a solution!
Good news is here for many, a down-payment assistance program for an FHA loans is available for those that qualify. All Americans should have access to affordable housing, and this may be the right help your family needs to make home ownership a reality. You do not have to be a first time home buyer and lower income households are encouraged to apply. Give us a call today at GSF Mortgage!