Do I really need 20% down to buy a home?
The short answer is no, you do not need 20% down to purchase a home. And in a market like San Diego, it's a good thing this commonly touted myth of home buying is not true.
There are a number of loan products that will allow you to purchase a home for as little as 3% down. FHA and VA offer some very affordable loan options for those high and desire to buy but low on cash to close. There are a number of conventional loan products that require much less cash to close as well. The best thing you can do is to consult with a loan professional to weigh your options, and see what works best for you.
So what options do first time and move up buyers have today? Plenty! Give us a call and we're happy to walk you through your options.