Today I’m talking about financing options for purchasing a home this year. Rates are very low right now and inventory is short, which is what's driving these house prices up. 

There are still zero-down loans or very low down payment options out there. We've worked with a couple of people this year who have used the USDA rural housing loan. It's only available in certain zones. Google “USDA rural loan” to find out where it's available. 

There are other options out there like 3% to 3.5% down loans. When you don't have enough for 20% down, there’s private mortgage insurance. It ranges from $100 to $200 per month until the property reaches 80% loan to value.

If you're looking to buy this year, talk to a lender and get pre-approved. If you have any questions, reach out to us anytime. I'd love to help you.