💸 Down Payment Help, Grants & Perks for First-Time Buyers
Think you need 20% down to buy a home? Not even close. Let’s talk options.
🚫 The 20% Myth
While putting 20% down can help you avoid mortgage insurance, it’s not required to buy a home. Many first-time buyers are getting into homes with as little as 3%–3.5% down—and some with $0 down.
✅ Common Low Down Payment Loan Options
Loan Type
Minimum Down
Highlights
FHA Loan
3.5%
Flexible credit, low down payment
Conventional
3%–5%
Competitive rates for good credit
VA Loan
0%
For eligible military/veterans
USDA Loan
0%
For rural/suburban areas
These loans are available to most first-time buyers who qualify—even with moderate incomes and average credit.
🎁 Down Payment Assistance (DPA) Programs
There are hundreds of city, county, and state programs in California that can help cover your down payment and/or closing costs.
Some common types:
- Grants (you don’t pay it back)
- Deferred Loans (paid later or when you sell/refinance)
- Matched Savings (they match what you save)
- Forgivable Loans (erased after 5–10 years in the home)
💡 Some programs require homebuyer education and income limits—but many buyers qualify without realizing it.
🌟 Extra First-Time Buyer Perks
- Reduced mortgage insurance on some loans
- Tax credits or mortgage credit certificates (MCC)
- Local incentives from city or county governments
- Builder incentives on new construction
🤝 Let’s See What You Qualify For
I can help connect you with trusted lenders who specialize in first-time buyer programs. We’ll explore every option to help make your dream home more affordable—no pressure, just solid info.
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