You need to have a 20% down payment.
At Movement, we offer loan prodcuts to qualified borrowers that only require as little as 3% down*, and some that offer 100% financing.
Fannie Mae HomeReady
I’m planning to move after a few years, so it’s not worth it to buy.
Even a few years as a homeowner may be more beneficial than renting for the same amount of time.
Career opportunity, kids, adventure, job relocation. These are all reasons a renter like you may hesitate to buy a home for fear of getting tied down. Sure, you may face a life change that requires you to sell your house and move. But in many cases, it only takes a few years to build up enough equity that it’s profitable to sell.
I need great credit to get approved for a loan.
In some cases, borrowers may be eligible for approval without a great credit score.
There are many factors involved in mortgage loan approval and though credit score is one, it’s not the only one an underwriter considers. Don’t assume you don’t qualify until you have all the facts.