How much of a difference does a down payment make?
Let’s be clear, the more money you can put down on a home purchase, the better off you will be in the long run. With that said, you do not need a 20% down payment to purchase a home today. There are plenty of affordable mortgage loans available that offer down payments as low as 3% of the purchase price. When searching for a lender, inquire about down payment programs or check with your local or state housing development authority to see what is available in your area.
Watch how much should you put down on a home:
Interested in buying your first home, SDFCU offers many mortgage options including one for first-time homebuyers.
Our HomeAdvantage® program can also help you connect with a real estate agent, do online research, and earn cash rewards.
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