Down Payment Assistance Programs
There are programs and organizations that can help you with your down payment requirements:
Federal Government Loan Programs - Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) may offer assistance in paying your up-front cash requirements. These programs can significantly reduce your down payment requirements. You may also want to contact your local Department of Housing and Urban Development (HUD) Community Builders to find out what local down payment assistance programs are available.
State Housing Authorities - State agencies may offer down payment assistance programs in your state.
Private Mortgage Insurance - Private insurance companies that offer you the opportunity to finance some of your down payment requirements. This allows lenders to accept lower down payments than they would normally allow.