03/21/2022
"It should also be noted that combining the FHA loan with a down payment assistance program could potentially mean only needing to put 0.5% down.
In addition, the down payment does not necessarily have to come from the borrower’s pocket. The money is allowed to come from a family member, employer or charitable organization as a gift. In Joe’s case, his parents can “gift” him the down payment."
FHA vs Conventional Loans, which is better? Are FHA loans good? Compare FHA loans vs Conventional loans and identify key differences to help you decide which home loan is right for you.