Down Payment Options
There are many kinds of loans to choose from that feature down payments. Countrywide has:
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Conventional loans with 5% down payments
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Zero down-payment loans from government agencies like the Veterans Administration (VA) and Rural Housing Service (RHS)
Obviously, if you can put more money toward a down payment, it will reduce the amount of your monthly home loan payments. At Countrywide, from 5% down to 20% or more down, we have the loan program to fit your needs.
Sources you may draw on to make your down payment include:
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Savings
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Stocks and bonds
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Individual Retirement Accounts (IRAs)
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Pension funds
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Real estate holdings
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Life insurance policies
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Mutual funds
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Employee savings plans
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Through our House America loan programs, part of your down payment may come from a grant from a nonprofit housing provider in your community.
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You may also rely on a gift of money given to you by a parent or another relative that need not be repaid. If you use gift money for a down payment, you will need to present a letter to your lender stating the amount of the gift, signed by the giver(s) and usually notarized by a third party.
Still wondering how much you should put down?
Or maybe you're wondering what's your best strategy for a down payment? Ask us. Call our toll-free number at the top of the screen or contact your local office. No matter how you choose to communicate with us, an answer is just seconds away.
Note: Restrictions apply to various loan programs. See a Countrywide Loan Expert for complete details.
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