How Much Do I Need for a Down Payment?

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There are a lot of misconceptions out there in the mortgage industry. One of those misconceptions is, “I need at least 20% for my down payment.” Most people do not think home ownership is possible outside of FHA, going the conventional route. But what if I told you I am getting borrowers approved all the time with as little as 5%, 10% or even just 15% down? Would that interest you? Well, many of the Conventional guidelines change. And they can change often. Most recently, Fannie Mae has lowered their down payment requirements to just 3% down to rival and compete with FHA. Some borrowers just do not want to go FHA. And they don’t have to. You have options and each borrower’s scenario is different. There are so many ways we can tailor a loan specifically for each individual, couple and/or family. So give me a call and let’s see which loan program best fits your needs.

Green House Mortgage is a full service home loan origination company in Tampa, FL and servicing the state throughout. If you have any questions or concerns with the article or simply need mortgage advice please call 813-732-3155 or email us at info@ghmortgage.com. We are dedicated to giving you the best mortgage consultation available. Green House Mortgage – It Pays to Go Green!

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