Is that available for any type of person or you have to be in military? by jarredlichem51 from Corona, California. Jan 8th 2015
no for anybody .. the military goes thru THE VA LOANS . FHA is 3.5% down and USDA IS a 100% loan, but your property has to be in a rural area.
FHA offers a 3% down which applies to any one who qualifies.
Correction, 3.5% down for FHA.
Special programs run by the state allow a 3% conventional loan. For additional information on these and other programs that allow the borrower to bring in as little as 0% even if your not military please call me at 714-227-5087. David Schwartz, Banc Home Loans.
Fannie Mae has recently revived the 3% down payment conventional loan, Freddie Mac will offer it in a couple of months. FHA requires a 3.5% down payment and VA is 100% financing. Anyone who qualifies can do the 3% down payment conventional loan. I would speak with a local loan officer and have them present you all of your available options.
There are a few different loan options that you have through FHA with possible grants as well as conventional 3% downpayment programs as well. Military/VA loans allow for 100% financing but you can quailify for 3% down payment programs if you havent served.
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