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Many people believe they must save a full 20% down payment before purchasing a home—but that simply isn’t true. In fact, there are several loan programs and resources available that require far less, making homeownership more accessible than most realize.

At MidMo, we offer a variety of financing options that start as low as 0% down, such as USDA loans, which are available to eligible buyers in qualifying rural areas who meet certain income guidelines. There are also local programs like Restore SGF and MHDC, which provide down payment assistance that can help bridge the gap for qualified homebuyers. While these programs aren’t available to everyone, many people are surprised to learn they actually do qualify.

For those considering a conventional loan, down payments can be as low as 3%, meaning you don’t have to wait years to save up a large lump sum before taking the next step.

With tax refund season underway and spring approaching, now is a great time to explore your options and see what you may qualify for. Our mortgage team is here to help you navigate the process and find a solution that fits your financial goals.

If you’d like to learn more about this mortgage myth, or if you’re ready to get started, contact a local mortgage expert like me, Joey Gutirrez at 417-380-4016.