Ways to get low downpayment

[Michael Mozie]

Hello BP, I am looking into purchasing a SFH that I will be living in and getting out of my FHA live in landlord situation. The house I'm interested in is quite pricey (over 400K) and I'm looking for loan options with low money down. Unfortunately in OHio, the highest loan amount for an FHA is 275K. Besides private lenders, any other options available to help with down payment? Seller will not finance. Anyone ever use Jumbo Mortgage Source?

[Steven Preston]

@Michael Mozie Depending on the location of the property within Ohio and your income, you may be able to utilize the USDA Rural Development loan with 0% down. Check out the USDA website for a map of eligible areas and the income limits in your area. You could also use a conventional loan with as little as 5% down, but will have to pay for PMI if putting down less than 20%.