The 7 Low-Down Payment Loans For Home Buyers – Today’s Mortgage and Real Estate News

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This is Dan on your inside team at Growella It's Monday, July 9, 2018 Get ready It's today's The Mortgage Minute-and-a-Half People be like put me in work work work work work work

And employers obliged Friday, on the ninth anniversary of the end of last decade's recession, the Bureau of Labor Statistics reports that two-hundred thirteen thousand people entered the US workforce last month and that's a positive signal even though not everyone re-entering the force has found an actual job Just the act of looking for jobs suggests confidence among U

S workers, and confidence leads to consumption which drives the domestic economy forward The jobs report also showed US worker hourly wage growth to be on the downswing, a data point which gave mortgage rates a quick Friday reprieve

Slowing wages reduce the pressure of economic inflation and when the pressures of inflation drop, mortgage rates often do, too So, take a look at today's live rates and get yourself a quote Rates are holding near the lowest in six weeks Today's mortgage rates are in the dirt dirt dirt dirt dirt dirt Interest rates for FHA loans, VA loans, conforming, USDA, and jumbo — everything's up to kick off the week

The rates you get from a lender are customized and more than a dozen factors go into your quote Whether you go fixed or ARM, full fee or zero cost, even your choice of lenders affects the rate you get so talk to two or more lenders and find your preferred combination of rates, fees, and service No matter how far you push the envelope, it'll still be stationary And no matter how matter how many times you hear you need twenty percent down to buy a home, it's still going to be not true You don't need twenty percent down to buy a home

And that fact makes a data point from Ellie Mae a little more concerning The mortgage software firm asked more than three thousand renters: "What's stopping you from buying a home" and the overwhelming answer was "I haven't saved enough for a down payment" Of all things, saving for a down payment should not be the thing that stops you from buying After all, there are seven government-backed mortgage programs that let you make down payments of less than five percent — some don't even require a down payment at all HomeReady, HomePossible, HomePath, FHA loans, USDA loans, VA loan, Conventional 97

Then, there are local government programs that give money to buyers for buying in particular areas Forgivable money And it's there, if you want it So, don't get hung up on the twenty percent down thing if you want to buy a place Lenders don't care so much what you put down

They just want to know you can make your monthly payments So, talk to a lender and find out what's possible You can't know until you ask Growella does timely and relevant mortgage news three times weekly and you can visit the site at Growella dot com for more excellent mortgage and real estate news Go on and click the like button

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