How much down payment do i need?
Updated: Aug 16
One of the biggest barriers to buying your own home is probably to do with saving your downpayment.
The good news is that you may not need the full 20%. That changes things a little doesn't it?!
SPEAK TO THE EXPERTS
Until you speak with a mortgage broker, you will never really know for certain, how much you could borrow and how much down payment you would need to buy your own home.
There are programs that you MAY qualify for that can bring the down payment required to a low as 3% and 3.5%. Exciting right! So it pays to speak to an expert and see which programs you could qualify for to help get you into your home sooner.
Now before you go out house shopping, it's important to get pre-approval. In fact most realtors will ask you to get pre-approval before even looking at properties together. So make sure you speak to the experts before making any real estate moves.
For private showings and consultations, please connect to arrange an appointment. I also run quarterly home buyers workshops in Silicon Valley which will help get you started.
METIS Real Estate
Youtube: Kate Barnes Realtor | Dre 02092777