>>3789665>Maybe a house in the middle of nowhere. A house in any semi decent part of the country will require at least 70k down with good credit.No, not in the middle of nowhere at all. And the downpayment depends on your loan, but $70,000 is way overshooting it if you are looking for your first house.
I do work in real estate, so I have some experience here. First-time homebuyers with good credit, no unsecured debt (i.e., shit like excessive credit card debt), good payment history, etc., and a steady income, not necessarily high but documented and steady, can usually get a 95% or even 97% conventional loan (not FHA, but conventional). There are even loans that have perks like paying for some of your closing costs. The best I've seen recently was for a $140,000 house, which was a decent 2 bed/2 bath house in a safe, middle class suburb, yes in a flyover state but a city/metropolitan area of several million, where the buyer brought $3500 to closing because we got their closing costs paid for through the loan and the loan itself paid for $1500 in closing costs. Now, granted, a 97% loan will have pretty high monthly payments, but you can refinance after a couple years if you want to get that lowered.
