Saving up for a down payment can be tough, but it’s easier when you know that you have options. Here are three ways to help with your down payment that don’t require saving.

Even if you don’t think you can afford a down payment right now, there are ways for you to purchase a home without one. A lot of people think they need 20% to put down on a home, but that’s not true. FHA only requires 3.5% down and other programs only require 3%. 

Even so, a lot of buyers still can’t afford that. Here are three ways to buy if you’re in a similar situation:

1. VA loans. If you’re a veteran or active-duty military, you can buy a home with a VA loan, which offers 100% financing. This means you can buy a home as high as $484,000 without having to make a down payment.

“Even certain neighborhoods have their own assistance programs.”

2. Family assistance. You can receive a down payment as a gift from a family member. The only thing they don’t allow is for the money to come from someone who isn’t related to the buyer.

3. Down payment assistance programs. There are over 2,500 different programs that you can use to help you with your down payment. Counties, cities, and even neighborhoods all have different kinds of programs you can use. 

If you’re interested in buying a home but aren’t quite ready for a big down payment, we’d love to help you narrow down your options to find out which decision is best.

If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.