Did you know? You don’t need 20% down to buy a new build home.
So you found the perfect community, lot, builder and floorplan… Congrats! Although you have made most of the big decisions already, there are several key considerations to make the most of your new build home over the next 15-30 years. One of those considerations is the type of loan and lender for the mortgage.
Here are the 4 types of new home loans you can consider (varies by lender):
1. Conventional – 3% Down | 620 Minimum Credit Score
2. FHA – 3.5 % Down | 580 Minimum Credit Score
3. VA – 0% Down | 580 Minimum Credit Score
4. Rural – 0% Down | 580 Minimum Credit Score
Ready to start your new home search? We have partnered with local real estate brokers to help you find your next home at no cost! Check out our Blueprint Homebuyer Program.