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Rates as
Low as 3.9% |
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Lowest
closing cost Guaranteed |
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 60
Seconds
Approval |
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Low Down Payments
Down
Payment Loans and Gifts
Down
Payment Grant
Qualifying
For Low Down Payments
Down
Payment Assistance
State
Housing Authorities |
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Down Payment
Loans and Gifts
Loans and gifts can help with your
down payment but you
can not use this strategy
for all loan programs.
The most popular program
for this tactic is
the Federal Housing
Administration or FHA.
FHA allows 100% gift
funds for your down
payment. The gift can
be from any relative
or can be collected
through new innovative
programs, like the
Bridal Registry where
couples receive money
into an account that
can be used for the
down payment.
Another popular tactic,
which can be used in
a wider range of programs,
is to borrow from your
401K program. If you
have a 401K program
with your employer,
you can withdraw without
a penalty for your
down payment and pay
it back over a specified
period. There are some
drawbacks, the payment
will be used in qualifying
and your 401K account
will not continue to
grow as fast. Even
with these drawbacks,
it is often a smart
move if this is your
only option. |
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