bank rates

Let The Feds Lower Your Down Payment

Want to buy a home, but don’t have much cash?

Qualifying for a VA or FHA loan can eliminate or reduce your down payment.Two government programs can ensure you make the smallest possible down payment.

You can still get 100% financing if you can qualify for a VA loan. And you’ll only have to pay 3.5% of the purchase price with an FHA loan.

These are mortgages where the government promises to repay the bank if you default. With guarantees like that, banks are able to take on borrowers they might have rejected on charged a much higher interest rate.

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