The Truth About Down Payments
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The Truth About Down Payments
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In this episode of Maine Mortgage Minute, Alina Burke discusses various home financing options available to potential buyers in Maine. She debunks the common myth that a 20% down payment is necessary to purchase a home and highlights several programs that allow for little or no money down. Alina explains the benefits of VA loans, USDA loans, and FHA loans, as well as assistance programs for first-time buyers. She emphasizes the importance of having a knowledgeable lender and realtor to guide buyers through the process, and addresses the concerns of self-employed individuals looking to qualify for a mortgage.
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