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You are here: Home / Blog / Tips for Home Buyers

No… You do not need a 20% down payment to buy a house

February 26, 2018

You do not need 20% down to buy a house.The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still confused about what is required to qualify for a home mortgage loan in today’s housing market.

According to the report, 39% of non-homeowners say they believe they need more than 20% for a down payment on a home purchase. In reality, there are many loans written with a down payment of 3.5% or less.

Many renters may actually be able to enter the housing market sooner than they imagined with new programs that have emerged allowing less cash out of pocket, such as an FHA loan with as little as 3.5 percent down.

And, if you’re planning to buy a primary residence in Green Valley or Sahuarita, you may qualify for a USDA loan, which offers great interest rates and $0 down payment options. This is a great option for anyone on a fixed income or first-time buyers who want to limit their out-of-pocket expense. For veterans, be sure to investigate a $0 down payment VA backed loan.

Filed Under: Tips for Home Buyers Tagged With: Credit, Downpayment, Home Loans

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"Russ is the best agent on the planet, bar none! He came highly recommended to me and I suggest everyone should work with this stellar man. Russ is a fantastic negotiator. I don’t think another agent would have been able to seal this deal as well as Russ. He knows when to back off and when to apply pressure. Russ is always a gentleman and treats everyone with respect. He has a good sense of humor and although a bit dry, he really makes you chuckle when the chips are down. I came to Green Valley hoping to have an accepted offer on a house in one week. Russ did it! And, my house is very special. Plus I was on a tight budget. Russ has the patience of a saint and will answer a dumb question 4 times over if need be. His knowledge of local contractors and laws specific to your purchase is more than helpful. Russ has a great knowledge of the area in general and he works to find you just what it is you are looking for. Russ listens. Rare quality in a man, hu? And, he’s a dog lover! "
- R.H., Green Valley AZ
"We have moved numerous times in our lifetime and dealing with Russ was one of the best experiences we’ve had with a Realtor. From showing of the house to assisting us after closing, he demonstrated a very professional attitude."
- A.S., Green Valley AZ
"Russ was so professional and knowledgeable. He helped us every step of the way. He’s still there for us when we have questions. I would highly recommend Russ to anyone looking to purchase a home in Green Valley."
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

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