The Pacific Northwest is one of the hottest housing markets in the country. Did you know that Washington, Oregon and Idaho are 3 of the top 10 states with the highest rate of “inbound moves” in North America? Meanwhile the rate of construction for new homes remains incredibly low. Booming growth and stagnate housing inventory lead to sky-rocketing home prices that can quickly price buyers out of the market.
Buyers need more purchasing power to compete. In some cases, with higher purchase prices, just qualifying for financing can become an insurmountable hurdle for those lacking proper funds. This is why PRM is always expanding our portfolio of low down payment options. We want to ensure our clients obtain financing that makes home ownership accessible, affordable and sustainable.
Our low down payment options include:
- FHA loan program.
- Conventional loans with mortgage insurance.
- VA loans for qualified veterans.
- State bond grants which, when coupled with a FHA or USDA loan, drastically reduce the amount of funds qualified borrowers have to bring to closing.
- Grants from our partner lenders which can cover a portion of the down payment.
- USDA programs, such as the RuraLiving mortgage, for those interested in more rural or small-town living. You can view a map of USDA approved areas Income restrictions apply.
One of these solutions may be the perfect fit for your client. With the help of PRM’s experienced mortgage bankers, we can pin-point the program that fits their unique needs and puts their financial goals in reach. Please don’t hesitate to contact us if you know someone who can benefit from exploring one of these low down payment options today.