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How much money do you really need to put down to buy a home here in San Diego?

Believe it or not, it starts at $0. Loans requiring no money down are primarily for those who have served in the military and are called VA loans. With these Veterans Administration loans, you can buy a home with nothing down. You've given a lot to this country, and they want to give back to you.

If you're not a veteran or member of the armed services, there is still a zero money down loan option for you called a USDA loan. This loan type is more focused on some of the rural and semi-rural areas of San Diego like Ramona, Alpine, Delzura, and Pine Valley. 

“Don’t believe the hype that you need to put 20% down to buy a home.”

From there, you have conventional loans, which have a minimum down payment of 3%. You also have FHA loans, which are some of the easier loans to qualify for. FHA loans require as little as 3.5% down.

A lot of media out there gives you the idea that you need 20% or more down to buy a home when in reality, you can buy a home with zero money down, or as low as 3% to 3.5% down. You have a lot of options if you're looking to buy a home here in San Diego. If you want to get in touch with a great lender to help you figure out the best option, we'd be glad to refer you to one. The best part is that some of these lenders can actually pay thousands of dollars worth of closing costs for you.

If you have any other questions about buying a home, give me a call or send me an email soon. I look forward to helping you!