On a $400,000 Phoenix home, your FHA down payment would be around $14,000, and assistance programs could make it even less. That's a plan.

If you want to own a home in Phoenix but you think you need 20% down to do it, we need you to hear this. That number is keeping good people on the sidelines, and in most cases, it doesn't have to.

We see it all the time in the Valley. People watching rent go up year after year because they believe they need tens of thousands of dollars saved before they can even think about buying. That number feels impossible. We get it.

But here's what most people don't know.

The programs that change the math. There are loan programs available right now that make homeownership far more accessible than most people realize.

FHA loans require as little as 3.5% down. On a $400,000 home, which is very much a real option in the Phoenix metro area right now, that puts your down payment at around $14,000. Not $80,000. $14,000. That's a completely different conversation.

VA loans are available to veterans and eligible service members with zero down payment required. If you've served, this is one of the most powerful homebuying tools available, and it's one that too many people don't take advantage of.

“On a $400,000 home, your FHA down payment is around $14,000. That’s not impossible. That’s a plan.”

USDA loans offer zero-down financing for homes in qualifying areas. Parts of the Phoenix metro area outside the urban core may qualify, and it's worth checking because the savings are significant.

And on top of all that, Arizona has down payment assistance programs that can help qualified buyers cover the gap. That means the $14,000 FHA number we just talked about could be even lower, depending on your situation and what you qualify for.

That's not impossible. That's a plan.

Homeownership builds wealth. Full stop. Every month you pay rent, that money goes to someone else's mortgage. Every month you pay your own mortgage, you're building equity in something you own. The longer you wait on the sidelines because of a number that isn't even accurate, the more time passes without that equity working in your favor.

The down payment barrier is smaller than most people believe. And the only way to know your real number is to sit down and run it.

If you want to know exactly what your options look like, schedule a free call with us here: https://calendly.com/goodcompanyre/30min. You can also call us at 480-267-9368, email us at Office@GoodCompanyRE.com, or visit goodcompanyre.com.

Worst case, you walk away knowing your number. Best case, you find out you're closer to owning a home than you ever thought.