FHA Loan

How to Buy a Home with 3.5% Down and
Use a Gift as your Down Payment

So you wanna buy a house but…

…you’ve only got a small amount of money saved to put down.  Or maybe you’re getting a gift from a relative to use as the down payment.  If so, the FHA 3.5% Down purchase loan may be perfect for you.

You may have realized that conventional lenders DO NOT allow you to use ‘gift funds’ as your down payment.  They want at least 5% of the down payment to be your money.  Basically, they want you ‘vested’.  You know, some stake in the game.

But not the FHA…

The FHA, which stands for the Federal Housing Administration, was designed to help renters become homeowners.  To share in that piece of the American pie.  Making it affordable and attainable for you, is the goal.

So the FHA allows you to put just 3.5% down on the purchase of your new home.  The best part of the program is that the entire down payment can be a gift from a relative.  Talk about lowering the barrier to entry, right?

So here are some FHA program highlights:

  • Only 3.5% Down Payment
  • Gift Money Allowed
  • Low Conventional Rates
  • Down to a 580 Credit Score*
  • No Points No Closing Costs Available
  • 1 to 4 Family Home


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A ‘Dream Maker’ for the Buyer with little money down…

The FHA loan really is a dream maker for the buyer with a small down payment.  The only thing you care about at the end of the day is taking ownership of your new home.

Of course, you want a great rate, low costs and a nice affordable payment which come along with the FHA loan too.  My point is, when you think about home ownership, you probably think about enjoying the home, right?

So let’s go enjoy your new home…

YOU have to take the first step.  Nobody can do that for you.  If you want it bad enough you’ll do it.  If not, you won’t.  It really is that simple, isn’t it?  Well, yes and no.

The first step is just that…the ‘first’ step.

Once you’ve decided it’s time to make something happen you’ll need a pro mortgage team on your side, right?  A team who understands the ins and outs of the FHA loan.  A team that will guide you step by step the whole way.

See if you qualify for the FHA Loan today…

Call us today and within a few minutes you’ll know if the FHA Loan will work for you.  There’s no cost or obligation to speak with an FHA specialist.  You’ll get the answers you need then you can decide what you want to do.

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