Buying a Home with Little Money

There are several options for buying a house with little money:

Look for government programs that offer assistance to first-time home buyers. These programs may offer down payment assistance, low-interest loans, or other forms of financial assistance to help you afford a home.

Consider a smaller or fixer-upper home. These properties may be more affordable and may allow you to build equity by making repairs and improvements.

Get a mortgage with a low down payment. Some mortgage programs, such as FHA loans, allow for down payments as low as 3.5% of the purchase price.

Look into owner financing or rent-to-own agreements. In these arrangements, the owner of the property agrees to allow you to pay for the home over time, rather than requiring a large down payment up front.

Consider a co-ownership arrangement with a friend or family member. This can allow you to pool your resources and buy a home together.

Save for a down payment. While it may take longer, saving up for a larger down payment can ultimately make it easier to afford a home.

It's important to carefully consider your options and do your research before making a decision on how to finance your home purchase. You may also want to consult with a financial advisor or mortgage broker to help you explore your options.

Looking to buy a home in the Portland Metro? I have helped many buyers in Oregon find great homes and I’d love to help more. I work with multiple lenders that I can set you up with.

I offer full service representation and have unmatched knowledge of the Portland Metro real estate market. Call or text me to schedule an appointment - 503-749-9307