Stop Saving 20%: Here is What You Really Need to Buy a Home in SW Florida
The Myth: "I need to save 20% down before I can buy a house." This is the single biggest misconception stopping renters from becoming homeowners in Lehigh Acres , Cape Coral & surrounding SW Florida areas . The Reality: According to recent data, the average first-time homebuyer puts down significantly less than 20%. In fact, most of my clients put down between 3% and 3.5% . Loan Programs with Low Down Payments: Conventional Loans (3% Down): Yes, you can get a conventional loan with just 3% down if you are a first-time buyer. FHA Loans (3.5% Down): Perfect for buyers with credit scores starting at 580 . This is a very popular option in Lee County . with as little as 10% down & and good rental history you CAN have a lower than 580 score VA Loans (0% Down): If you are a Veteran or active duty military, you have earned the right to buy with zero down payment and no monthly mortgage insurance. USDA Loans (0% Down): Believe it or not, many areas around Punta Go...