The Secret to Affordable Homeownership is Out!

Less Cash Upfront? Let’s Make It Happen

Think buying a home requires 20% down or tens of thousands in savings? Think again.

At LeaderOne Financial, we understand that saving for a down payment and closing costs can feel like the biggest roadblock to homeownership. The good news is, there are more programs and strategies available than ever before to reduce your upfront costs and help you get into a home sooner.

Do You Really Need 20% Down to Buy a Home?

One of the most common myths in real estate is that buyers need to save 20% of a home’s purchase price before they can buy. While putting more money down can reduce your monthly payment, it’s not a requirement. Many homebuyers purchase with far less.

Depending on the loan program, you could buy a home with as little as 3% down, or even 0% down in some cases.

How Down Payment Assistance Programs Work

Down Payment Assistance (DPA) programs are designed to help cover a portion of your upfront costs, making homeownership more accessible. These funds can come in the form of grants, forgivable loans, or second mortgages with low or no interest.

What surprises many people is that these programs aren’t just for first-time buyers. If it’s been a few years since you last owned a home, you may still qualify as a “first-time” buyer under program guidelines. LeaderOne helps our clients navigate these options to find the ones that best fit their situation.

Closing Cost Credits: Another Way to Save

Down payment isn’t the only cost you’ll need to prepare for; closing costs can add up too. The good news is that today’s market trends show more sellers are offering credits to help cover closing costs. These seller-paid concessions can make your next home more affordable than you think, leaving you with more cash left over after closing.

Loan Programs That Offer Flexibility

The great thing about today’s housing market is that down payment help isn’t limited to one loan type. Depending on your qualifications, LeaderOne can help you explore:

• FHA Loans – Low down payment options, flexible credit guidelines.
• VA Loans – 0% down for eligible military service members, veterans, and surviving spouses.
• USDA Loans – 0% down for eligible rural and suburban buyers.
• Conventional Loans – Options as low as 3% down for qualified buyers.

No matter your situation, our team at LeaderOne will guide you through your choices so you can make the best decision for your goals.

How One Buyer Purchased With $0 Out-Of-Pocket

Maria, a first-time homebuyer, was worried she’d never save enough for the upfront costs of purchasing a home. Her loan officer introduced her to a Down Payment Assistance (DPA) program that covered the 3.5% FHA down payment, and her real estate agent negotiated a 3% seller concession to offset closing costs and prepaid expenses. Together, these solutions reduced her total cash-to-close to $0—allowing her to receive her earnest deposit back at closing.

Maria’s experience shows how being educated about available programs can make homeownership more attainable, often saving buyers thousands of dollars in upfront costs. With the right guidance, many buyers discover opportunities they didn’t know existed.

Disclaimer: This example is for educational purposes only. Every borrower’s situation is unique, and eligibility for Down Payment Assistance programs, seller concessions, and loan terms will vary. Not all buyers will qualify for these programs or outcomes.