First time home buyers don’t need a big down payment
Even if you can’t get a zero-down loan as a first-time buyer, there’s a good chance you’ll qualify with just 3 or 3.5 percent down.
First-time home buyers have plenty of low-down-payment mortgage options. For example, conventional loans let you buy a house with 3 percent down and a 620 credit score, and FHA loans allow a 3.5 percent down payment with credit as low as 580. Check your options to see what you can afford right now.
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