How much down payment do I really need?
The minimum down payment depends on your loan type. FHA loans require as little as 3.5 percent down, conventional loans start at 3 percent, and VA or USDA loans can be zero down if you qualify. A larger down payment can lower your monthly payment and help you avoid private mortgage insurance, but it's not always necessary to put down 20 percent. Your best option depends on your financial situation, the loan programs you qualify for, and your long term goals. The specifics depend on your situation and a licensed lender should confirm, and Jon can connect you with one.
Specifics depend on your situation and should be confirmed with a licensed lender. Jon can connect you with one: text (623) 826-0888.
More on down payment and assistance
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.