Homebuyer Misconception: You Need a 20% Down Payment

Aug. 5, 2016
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As rates continue to remain at historic lows, many homebuyers still believe that they need to have a 20% down payment in order to qualify for a mortgage. GSF Mortgage offers programs where a homebuyer may not have to bring a down payment to closing or may only need a 3% down payment.

USDA Loan

The USDA loan is the only zero-money down loan available for non-veteran borrowers. Through the program, if you buy a home in any of the approved rural areas, you maybe eligible for financing with down payment. The program offers a flexible and easy approval process as well as low fixed interest rates.

FHA Loan

FHA loans have been helping people become homeowners since 1934. Your down payment can be as low as 3% of the purchase price and most of your closing costs and fees can be included in the loan.

VA Loan

A VA mortgage is one of the only loan programs available to active military and veterans that still allows the borrower to finance 100% of the home’s value and purchase with $0 down.

GSF Mortgage also offers a Heroes Discount, which allows teachers, law enforcement, firefighters, EMTs and flight crew to receive a reduced rate or fee on any loan closed with GSF Mortgage.

Contact Todd Rickun to learn more about these programs: (414) 429-8501.



Todd Rickun NMLS# 281553 This is not an offer to make a loan or to make a loan on any particular terms. All loan applicants must qualify under the underwriting requirements and satisfy all contingencies of loan approval. GSF Mortgage Corp. NMLS# 1018. 15430 W. Capitol Drive | Brookfield, WI 53005. Equal Housing Lender. 

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