MORTGAGE ADVICE
The Basics of Down Payment Assistance Programs
Perhaps the single biggest obstacle to home ownership is coming up with enough money for a down payment, closing costs and cash reserves. While some loan programs don’t require a down payment, such as the VA and USDA programs, others do. For example, FHA loans ask for a minimum down payment of just 3.5 percent of the sales price.
David Reed
Writer
David Reed is a multi-published author and mortgage expert. As a Senior Loan Officer and Mortgage Executive he closed more than 2,000 mortgage loans over the course of more than 20 years in commercial and residential mortgage lending.
AGENT RESOURCE
