Your Down Payment

If you need to talk about down payment options, Cody Reid and his staff are here to answer any questions. 

While you may be able to qualify for a mortgage loan, you may not be able to make the larger down payments required by some lenders. 

Here are a few ways to obtain your down payment:

Save, Save, Save!
Budget your expenses, and have a look at how much money you spend on things which are not necessary. Scrutinize your budget to discover extra money.

Borrow from Retirement Funds
Exhaust your 401k for a down payment and withdraw money from an IRA. Make sure you know the tax consequences, your obligations for repaying funds, and possible early withdrawal penalties. Get informed about taxes & government benefits. 

Request a Generous Gift from Family
Coming up with a down payment to buy a home is a major hurdle for many hopeful first-time buyers. Fortunately, some thoughtful family members may be willing to contribute to cover the down payment, so that house hunters can get into a home sooner.

Contact Housing Finance Agencies 
Provisional loan programs allow buyers to borrow money even if they might not qualify on their own. They  aren't provided to everyone, and you'll need to meet specific requirements to qualify.


Get information on low-down and no-down mortgage loan programs


  • Federal Housing Administration (FHA) mortgages - Down payment requirements for FHA mortgages are smaller than those of typical mortgages, but loans have higher rates.  The HUD helps individuals qualify for a mortgage. Down payment requirements are as low as 3.5%.


  • VA mortgage loans- VA loans are guaranteed by the U.S. Department of Veterans Affairs and operated through private lenders. Service persons and veterans may receive a VA loan, which usually offers a low fixed interest rate, no down payment, and minimal closing costs.



** Please note: Not all applicants will qualify. Please meet with a licensed loan originator for more information. Rates, fees, terms, and programs are subject to change without notice. Not all loans, loan sizes, or products may apply. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet loan-to-value requirements, and final credit approval. Approvals are subject to underwriting guidelines and program guidelines and are subject to change without notice.**


OriginPoint LLC does not provide tax advice. The consumer should always consult a tax advisor for information regarding the deductibility of interest and other charges in their particular situation. OriginPoint LLC has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.

We're Here to Help!

Share by: