The number one questions I get when I meet with potential home buyers is, How much down payment will I need? That is a great questions. Knowing your finances is the 1st step to home ownership. The down payment required is based on the type of loan you will be using. A typical FHA loan can require as little as 3%, conventional 3% – 20%, and VA may be as little as 0%.

In today’s economy saving for a down payment can be difficult. So it is important to know that there are many down payment assistance programs available to help Columbia SC residents become home owners.

In Columbia SC and other areas there are programs such as South Carolina State Housing, Origin Neighborhood Lift, USDA Rural just to name a few.

When you decide to purchase a home it is important to speak with a realtor and a mortgage lender to get pre approved for a mortgage. During your meeting it will be important for you to discussed what programs you may qualify for to assist you with your down payment.