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How much down payment do you really need?
What is Happening in the Mortgage Market How much down payment you need to buy a Texas Home  

If you're saving up to buy your first home  or wondering if you have enough equity to trade out for another, you may be  relieved to know that for most buyers, low down payment options are still available.
Zero down
The Veterans Administration and the US Department of Agriculture (USDA) both offer a zero down loan program for individuals and/or properties that meet their criteria. Sometimes, loans require little or no cash out of pocket. Some HUD (Housing and Urban Development) properties are available with as little as $100 down.
3.5% Down
The Federal Housing Administration (or FHA) loan program can allow as little as three and half percent down, and it is more lenient than most other programs on minimum credit scores and other factors.
3% Down Payments.
Fannie Mae and Freddie Mac offer conventional loans with as little as 3% down. The minimum on these programs can change depending on factors such as property type, credit score, occupancy, etc.
Are you surprised at how low you may be able to go? While many believe a 20% down payment is required is simply the most prudent, you can see now ... more

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