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· For an FHA loan, the minimum down payment you would need to buy a home is 3.5% down. Most lenders can lend up to $417,000 with the exception of Alaska, Hawaii, and Guam.
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· If you can’t get approved on your own, a cosigner might help. Especially if your lender suggests finding a cosigner, the lender is saying you don’t meet the approval criteria on your own. As long as your cosigner has good credit and plenty of income, adding their information to your application will improve your chances.