Mortgage Tips & Education Blog | Liberty Star Mortgage

Don’t Let a 20% Down Payment Freeze You—Explore Your Home Buying Options!

Does the thought of a 20% down payment have you frozen in fear? You’re not alone! Many first-time homebuyers mistakenly believe they need to save a full 20% of the home’s price to make their dream of homeownership a reality. The good news is, that’s not the case! There are plenty of options that require much smaller down payments—or even none at all.

Don’t Let a 20 percent Down Payment Freeze You

Here’s a look at some of the best options for reducing your down payment and making homeownership more attainable:

1. First-Time Homebuyer Loan: Just 3% Down!

If you’re a first-time homebuyer, there’s no need to stress about saving 20% of your home’s price. With a First-Time Homebuyer Loan, you can qualify with as little as 3% down. This option makes homeownership more accessible without the burden of a massive upfront payment.

2. FHA Loans: Only 3.5% Down!

Federal Housing Administration (FHA) loans are another fantastic option. With only a 3.5% down payment requirement, FHA loans are designed to help lower-income and first-time buyers achieve their dream of homeownership. This lower down payment requirement can be a game-changer for many buyers.

3. VA and USDA Loans: No Down Payment Needed!

For veterans, active-duty military members, and eligible rural buyers, VA and USDA loans offer the incredible benefit of no down payment at all. These loans are specifically designed to make homeownership accessible without the need for a large upfront payment.

Curious About What You Might Qualify For?

Don’t let the misconception of a 20% down payment hold you back from achieving your homeownership dreams. Reach out to Collette Horton at Liberty Star Mortgage today and take the first step towards your new home!

Book a one-on-one consultation with Loan Officer, Collette Horton, to discuss your mortgage options and find the perfect loan for your needs.

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Main Number:
(281) 558-0004

Fulshear Locations:
30417 5th Street, Suite B
Fulshear, TX 77441

5757 Flewellen Oaks Lane, Suite 104
Fulshear, TX 77441

Sherry Collette Horton , NMLS #290357

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