The Biggest Misconception About the Buying Process Here in Atlanta

Cobb County and Metro Atlanta Real Estate Video Blog with Jennifer and Tim Cowan

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Today, we discuss the common misconception that you need to be able to put 20% down in order to purchase a home.

There are many loan programs out there that will allow you to put less than 20% down. Conventional loans offer programs for as little as 3% down, which is the lowest possible. Conventional also allows for you to put 5%, 10%, 15%, or even the whole 20% down, which is nice because you can choose whatever amount you can comfortably afford to put down.

The FHA program allows you to put only 3.5% down. This is a great loan option because there is a grant program that will get you the whole 3.5% for you and could even cover as much as 5% of the loan. With this grant, you don't have to pay the money back, and the options range from 3% to 5%. You can use the money for your down payment, closing costs, or anything else needed to get into the home. The program is called NHF Platinum, and we highly recommend looking into it!

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