The Place To Get A Down Payment For A House... Episode 274

The Place To Get A Down Payment For A House... ... is right in front of you Home Loans Come in all shapes and sizes A VA Loan or USDA Loan are 2 that may not require any down payment FHA Loans can have a down payment as low as 3.5% Conventional loans typically start at 5% down payment and there some that only need a 3% down for well qualified buyers So where do you get the $$$ for that down payment Here are some of the most common ways to do it Save it on your own Tax Refund Get a gift from a direct family member Withdraw $ from a retirement account Take a loan from your 401k Each of these methods require some work and I recommend that you document everything as the lender will want to see the paper trail if you are considering an option regarding your retirement account contact your plan administrator to learn about any interest or penalties due today's talks in depth about how you can get the money you need to help you purchase a home this year

Listen