Four loan types and their differing down payment options.

Did you know that a 20% down payment isn’t your only option? Sure, it’s great if you just sold a house and have the equity from that, but it’s not an option for everyone. That is why we have compiled a list of four basic home loan types that can help you reduce your down payment. 

These are conventional, FHA, VA, and USDA loans. Most people hear about conventional loans requiring 20% down, but it can be as low as 10% or 5%, which is great news for a lot of people. For FHA you only need 3.5% down, and if you’re military and qualify for a VA loan you can get no down payment! The same is true for USDA loans, and even though this was originally meant for more rural areas, reach out to us and we’ll help you find areas of San Antonio that qualify. 

If you want to know more about this or need help learning what you qualify for, give us a call at (512) 668-9966. We’d love to help!