What Do Lower Down Payment Programs Mean for You?

The Salt Lake real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the Salt Lake area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 801.285.0521

Today, we're going to share some quick information about a new loan program that we think could have a big effect on the Salt Lake City market. 

In December, Fannie Mae announced plans for a new 3% down program on conventional loans. This is huge - buyers can now get a conventional loan for cheaper than a FHA loan, which requires 3.5% down! On a $200,000 home, that's a difference of $1,000 down. While that doesn't seem like much, we've found that $1,000 can make a huge difference to buyers.

For sellers, this new program will make your home affordable to more buyers. With the spring real estate season just around the corner, this program came just in time!

If you have any questions about this new 3% down product, or if you would like real estate assistance of any kind, don't hesitate to give us a call or shoot us an email. We would love to hear from you!