There is a lot of chatter in the media how people need to put more money down when buying a home in Lynchburg, Bedford County or Campbell County Virginia.

While down payment requirements have increased for some programs, it is still possible to buy a home with less than five percent and also NO money down. Yes, you did read you can buy a home without a down payment.

The loan program that allows for you to qualify with as little as 3.5% down is one that is guaranteed by the FHA and the ones that allow for no down payment are those guaranteed by the VA and USDA.

Granted, there are restrictions with each of these programs that can include maximum loan amounts based on your location with FHA loans, income and property requirements for those offered by the USDA, and your qualifying status as an eligible Veteran.

However, the ability to purchase a home in the Lynchburg, Campbell County or Bedford County area with less than five percent down is still a possibility for millions of Americans.

Also, keep in mind that sellers may still offer concessions in the form of paying closing costs which can also decrease the amount of funds you may be required to have to purchase your next home in Bedford County or Campbell County or Lynhcburg MLS area.