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Do you need a 3.5% down for any type of loan?

With so many loan options out there for first time home buyers like me, it can be quite confusing. Is it true that you need a 3.5% down payment for any type of home loan? I live in the Miami area and I am looking to purchase my first home. by leslie310 from Miami, Florida. Jan 28th 2022 Reply


FHA loan programs required a minimum of 3.5% down payment; however, we have a loan program that the 3.5% down payment can be finance as a 2nd mortgage, so all you need is the closing costs. Also, there are conventional loans for first time buyers that only requires 3% down.

Apr 6th 2024
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