How to Get a Lower Downpayment for a House You Want to Purchase

Producing 20% downpayment for a property is becoming impractical. Many who want to buy properties are forced to give up that dream because they don't know how to make it a reality.

Many live paycheck to paycheck.

However, RealJaja can help you get a house with lower downpayment. CALL US!

No down payment: VA loan

If you are a qualified veteran, you can purchase a property with no downpayment.
This privilege is reserved for:
qualified veterans
active-duty service members, and
certain members of the National Guard and Reserves

Private lenders provide the loans but is guaranteed by VA. All borrowers need is pay a funding fee which can be between 1.25% to 3.3%.

No down payment: Navy Federal

You can be a member of the Navy Federal Credit Union if you are a:

  • Active Duty members of the Army, Air Force, Marine Corps, Coast Guard and Navy
  • Army and Air National Guard
  • Delayed Entry Program (DEP)
  • DoD Officer Candidate/ROTC
  • DoD Reservists
  • Veterans, retirees and annuitants

They offer 100 percent financing. They do have certain criteria and you have to be buying a primary home too. It works the same way as a VA financing but with more affordable funding fee.

No down payment: USDA

No, you don't need to be buying a farmland to get this deal. You can buy a home and still qualify for this. Unfortunately, this is one of the most in-demand program that they usually run out of funds even before the fiscal year ends.

It helps to get in your application early.

You can head out to their website and check what areas they cover.

Low down payment: Mortgage insurance

There are some private mortgage insurance companies that offer low downpayment. Some can to down to 3%. You can call RealJaja for more assistance.

The one things that makes this more advisable than FHA is that you can cancel your PMI once your balance goes below 80%.

Low down payment: FHA

You don't have to pay 20% downpayment, you can pay 3.5 percent downpayment.

Even if your credit history is less than stellar, you can still qualify.

There is an immediate premium of 1.75 percent of the mortgage amount but that's still a better option.

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