Buying a home with less downpayment? Is this possible? YES!
To buy a Silicon Valley home with less downpayment is very common among with the 1st home buyers in Santa Clara county. Don't let it stop you.
The 1st source will find a FHA insured mortgage.The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories. You can get a FHA insured loan for less than 3.5% of the purchase price. There are some requirement for FHA loan: credit score etc. Many banks offer FHA program.
There are more county wide and city wide buyer downpayment assitance problems also as follows:
1). Santa Clara County 1st home buyer program: I have customers use this 1st home buyer assistance in Santa Clara county program.
2). Neghborhood housing service Silicon Valley offer down payment assistance and 1st time home buyer asssitance also.
3). Home buyers help sorted by cities: There more assitance for many cities.
For more information about Santa ClaraCounty Homes for sale including San Jose, Cupertino, Sunnyvale, Santa clara and the comunity of Silicon Valley -I help for the home buyers to purchase their homes and home sellers for last 20 years.