Is Five Percent Down To Big of An Ask?

[Mat Poole]

Am I out of my mind thinking I can find a loan product with five percent down right now? First time buyer looking at single family homes between the $75,00 and $115,000. I've talked to a handful of loan officers and at this time the lowest down option I've found is fifteen percent. 

[Andrew B.]

Originally posted by @Mat Poole:

Am I out of my mind thinking I can find a loan product with five percent down right now? First time buyer looking at single family homes between the $75,00 and $115,000. I've talked to a handful of loan officers and at this time the lowest down option I've found is fifteen percent. 

If you are looking for an owner occupied property, I don't think youre crazy. Maybe you should make sure your loan officer knows this. If youre looking for an investment property, you're crazy for expecting 5% down as a first time buyer.