Mortgage down payment options

In today’s mortgage market, there are several options for down payments on a home purchase.

At Indigo Mortgage, we have our 100% financing option called Indigo Bright Start. In our exclusive program, borrowers don’t have to put down any money and there are no income restrictions.

First time home buyers can also put as little as 1% down with a special program at Indigo Mortgage but that does have some income restrictions.

Another program is a 3% down payment program on conventional loans but again, there are income limitations. FHA offers a 3.5% down payment program with no income limitations.

The VA offers zero down on all their purchase loans as well as USDA offers zero down on rural properties. Payment assistance is available but there are qualifications for the loan.

As you see, there are many different programs available and its important for borrowers to understand which one is right for their individual circumstances so you will want to utilize the expertise of a local mortgage broker like Indigo Mortgage. We will not only take the time to outline the right program but also offer some of the best rates and terms on market. One size does not fit all so let’s take some time to figure out which loan is the right fit for you. We’ve helped home buyers through the home loan process in the Albuquerque region and all across New Mexico since 2003.

Mortgage Brokers are Better Source of Funds in a Mortgage Loan