Redfin

JULY 24, 2025

” Simply put, a down payment is the initial sum of money you pay upfront when buying a home, with the remaining amount financed through a mortgage. According to Redfin Real Estate, the minimum down payment for first-time homebuyers varies depending on the type of loan. Many loans offer down payments as low as 3% or even 0%.

FHA loan

The Mortgage Report

JULY 1, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? Meanwhile, FHA loans comprised 15.3%

Loans

The Mortgage Report

JULY 24, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? Authored By: Erik J.

FHA 203k rehab loan

Rochester Real Estate

NOVEMBER 5, 2015

Top Mortgage Blogs From 2017 Best Mortgage & Home Financing Blogs From 2017 We’re back! Below you’re going to find some incredible recaps of home financing and mortgage blogs that have been published during 2017. Did you know if you file a Chapter 13 bankruptcy, you can immediately apply for an FHA loan?

Finance

Redfin

JUNE 27, 2025

Don’t skip critical steps like the home inspection or negotiating closing costs. Take note of closing costs, loan terms, and any additional fees. Overlooking your credit score Your credit score plays a major role in whether you’ll qualify for a mortgage loan and the interest rate you’ll secure.

Pre-approval

Marco Santarelli

DECEMBER 22, 2024

Understanding these rates and how they can impact your financial decisions is crucial as you navigate your home financing options. However, a positive consideration is ensuring the additional debt taken on does not outweigh the benefits derived from the equity financing. Confirm that the savings exceed these costs.

Mortgages

Redfin

JULY 23, 2025

The amount you’ll be required to put down may vary depending on the loan program you use to finance the home purchase. Government-backed loans like USDA and VA allow down payments as low as 0%. On the other end of the spectrum, jumbo loans may require minimum down payments of 10% or more. FHA loans – as low as 3.5%

FHA loan

Redfin

JUNE 13, 2025

In this Redfin article, we’ll walk you through what’s different as a second-time homebuyer, how to prep your finances, and what strategies ease the transition—whether you’re upgrading in Flagstaff, AZ , downsizing, or just making a change in Fort Worth, TX. Example cost impact: At a 6.8% Step 2: Sell first or buy first?

Debt-to-income ratio

Marco Santarelli

MARCH 4, 2025

VA Loans: For eligible veterans, VA loans offer great benefits, including no down payment and often lower interest rates. FHA Loans: FHA loans are insured by the Federal Housing Administration and are designed for borrowers with lower credit scores or smaller down payments. ARMs can be risky.

Mortgages

The Mortgage Report

JUNE 9, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? Verify your home buying eligibility.

FHA 203k rehab loan

The Mortgage Report

JULY 11, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? Verify your home buying eligibility.

FHA 203k rehab loan

The Mortgage Report

JULY 10, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? This can make budgeting easier.

Equity

Redfin

JULY 30, 2025

Which loan is right for you? Conventional loans: You have a credit score of 620+, stable income, and can put at least 3% down. FHA loans: You have a credit score of 580+ (or 500+ with 10% down) and a higher DTI ratio. VA loans: You’re an eligible veteran, active-duty service member, or surviving spouse.

Loans

The Mortgage Report

JULY 7, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford? In this article (Skip to.)

Equity

Redfin

JUNE 27, 2025

Seller concessions refer to closing costs or other fees that the seller agrees to pay on the buyer’s behalf. Seller concessions are financial contributions made by the seller to reduce the buyer’s out-of-pocket expenses at closing. These costs can include lender fees, taxes, insurance, or even home warranties. They can.

Seller concession

The Mortgage Report

JULY 8, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? After closing, you receive a one-time lump sum of cash.

Equity

Redfin

MARCH 4, 2025

From finding houses to tour and what financing options you have, theres a lot to learn about buying a home in foreclosure. If the auction accepts financing, make sure you have a pre-approval ready. Government-owned properties Some mortgages are government-backed, like VA loans and FHA loans.

Pre-approval

Redfin

JANUARY 28, 2025

For example: If the home sells for $400,000 but the mortgage balance is $300,000, the buyer must cover the $100,000 differenceeither in cash or through additional financing. Assumption fee: Lenders typically charge an administrative fee to process the loan transfer, usually ranging from 0.05% to 1% of the remaining loan balance.

Loans

Marco Santarelli

APRIL 30, 2025

Homeowners also need to factor in refinancing costs, like closing costs and how long they plan to stay in their homes. If refinancing adds $3,000 in costs, homeowners should calculate how long it will take to recover those costs with their savings. FHA loans require only a 3.5%

VA loan

The Mortgage Report

JUNE 16, 2025

Buy a Home Home-Buying Loan Types Low Down Payment Mortgages Conventional Loans VA Loans FHA Loans FHA 203k Rehab Loan USDA Loans Investment Property Mortgages Compare Home Buying Loans Home Buying Help Do I Need 20% Down? How Much Home Can I Afford?

FHA 203k rehab loan

HomeLight

MAY 14, 2025

These companies can help sellers cash out quickly, and many will cover a sellers closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is

Redfin

JULY 30, 2025

If you’re wondering if you’re ready to buy a house , consider these three factors: Financial stability: If you have a low credit score, lots of debt, and not enough funds to cover a down payment and closing costs, you may want to wait to buy a home. Closing costs: Typically 2-5% of the home’s purchase price.

Pre-approval

HomeLight

JULY 29, 2025

These companies can help sellers cash out quickly, and many will cover a seller’s closing costs. If you end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is

HomeLight

JULY 23, 2025

These companies usually buy at a discount but offer quick closings and often cover the seller’s closing costs. But if you do end up working with a financed buyer, know that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have varying minimum property standards.

As-is

HomeLight

MAY 15, 2025

These companies can help sellers cash out quickly, and many will cover a sellers closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is

Redfin

APRIL 11, 2025

The initial costs , like a down payment and closing costs, can be a big hurdle for many first-time homebuyers. Unlike renting, you’re responsible for all maintenance and repair costs , which can be unpredictable and add up. . >>See FHA loans : Often feature lower down payment and credit score requirements.

Marketing

Redfin

MARCH 4, 2025

For example, you may qualify for a hardship withdrawal to cover your down payment or closing costs. How to borrow from your 401k account to buy a house To borrow from your 401k loan to finance a down payment, youll need to talk to your employers benefits office or HR department, or with your 401k plan provider.

Debt-to-income ratio

Redfin

JULY 28, 2025

It offers a $2,500 borrower credit toward the down payment or closing costs of a home, and considers positive rent payments towards loan eligibility. A homeowner’s education course is also required to qualify for this loan. A homeowner’s education course is required for this loan as well.

VA loan

Redfin

JULY 30, 2025

These are key criteria lenders and programs use to determine if you’re eligible for financing and special perks like down payment assistance. In this Redfin article, we’ll be going over what counts as a first-time buyer, what qualifications you’ll typically need to meet, and how to get your finances in shape for your home purchase.

Debt-to-income ratio

Redfin

JUNE 27, 2025

Key takeaways: Your first-time home buyer benefits include down payment and closing cost assistance, grants, tax benefits, and low-interest or forgivable loans. Many programs offer low-interest or no-interest loans to cover down payments or closing costs. Grants Unlike loans, grants don’t need to be repaid.

Debt-to-income ratio

Norada Real Estate

JUNE 22, 2025

Loan Type : Choosing between conforming loans, FHA loans, VA loans, and others can impact interest rates as well. Lender Fees : Beyond interest rates, potential borrowers should watch out for origination fees, closing costs, and other lender fees that could inflate the overall cost of the mortgage.

Mortgages

HomeLight

MARCH 7, 2025

These companies can help sellers cash out quickly, and many will cover a sellers closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is

HomeLight

MARCH 7, 2025

These companies can help sellers cash out quickly, and many will cover a sellers closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is

HomeLight

APRIL 2, 2025

These companies can help sellers cash out quickly, and many will cover a sellers closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is

Marco Santarelli

MARCH 31, 2025

You'll notice that refinance rates are very close to purchase rates today, sometimes slightly lower (like the 30-year fixed) and sometimes slightly higher (like the VA options). You have to factor in closing costs on the new loan and determine how long it will take for the savings from a lower rate or shorter term to outweigh those costs.

Mortgages

HomeLight

MAY 8, 2025

These companies can help sellers cash out quickly, and many will cover a sellers closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is

Marco Santarelli

APRIL 2, 2025

The data also includes rates for VA and FHA loans, which are government-backed mortgages often favored by veterans and first-time homebuyers, respectively. Factors like closing costs and how long you plan to stay in your home play a big role in whether refinancing will save you money in the long run.

Mortgages