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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 helped us make our retirement dream a reality. We met Russ in July of 2018 when we made our first house hunting trip to Green Valley, AZ. He listened carefully to what we were looking for in a home and presented us with a list of houses that met our criteria. He helped us through two failed sales on our ou-of-state home, and when our home sold after five months on the market Russ was ready to help us with our home purchase in AZ. He stayed on top of all the important dates, provided us with a wealth of information about the area and links to all the required utilities. Moving is very stressful but Russ took a lot of the stress away with his commitment to quality customer service."
- C. G., Green Valley AZ
"We are so glad we found Russ. Sharp website, backed up with an even sharper, stand up guy! Truly the best of the best. This was our 7th real estate purchase. Without question the BEST. To boot, it was from 2500 miles away! Thanks again, Russ."
- J.B., Creedmoor NC
"Russ knows all the ins and outs of Sonora at Rancho Sahuarita and his knowledge was really helpful. I had already moved out of the area and he had good people lined up to fix up the minor things that were required in the inspection. "
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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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