Buy a Home in Arlington With 3% Down?
Arlington real estate, first-time buyer, down payment, mortgage, home buyers, Arlington VA, buying a home
Can I Buy a Home in Arlington With 3% Down?
Some mortgage programs do allow a down payment as low as 3% for qualified buyers, and VA loans can allow none. But the down payment is not the only cash you need, so ask a lender to show you every cost.
Many buyers think they need 20% down. You do not always. Here is how to sort it out.
The Mike Webb Team (Mike and Claudia Webb, RE/MAX Allegiance) helps homeowners in Arlington, Northern Virginia, Maryland, and Washington, DC get their homes ready to sell and sold.
What are the low-down-payment choices?
Some mortgage programs do allow a down payment as low as 3% for qualified buyers, and there are also options that may allow no down payment for eligible borrowers. These choices can be helpful for first-time buyers and others who have good income but have not saved a large amount of cash.
Conventional loans with a small down payment. Some lenders offer these, often with rules about income and first-time buyer status. Ask each lender what they offer today.
FHA loans. These are backed by the federal government and are built for buyers with smaller down payments. Learn more at HUD .
VA loans. If you are an eligible service member or veteran, a VA loan may allow no down payment. See the VA home loan page .
Rules and rates change. Your lender gives you the real terms.
What else do I need cash for?
The down payment is one piece. You may also need money for:
Closing costs
A deposit when your offer is accepted
Home inspection and appraisal fees
Moving costs and first-month needs
A smaller down payment can also mean a larger loan and a higher monthly payment. Mortgage rates are not low right now. Freddie Mac reported the average 30-year fixed rate at 7.40% for the week of October 15, 2026 Freddie Mac . Your own rate may differ.
Is a bigger down payment always better?
Not always. A bigger down payment can lower your monthly payment. But if it drains your savings, you may have no cushion for repairs. The right number is the one you can live with.
How do I find out what I qualify for?
Talk to a lender early. Ask for a Loan Estimate for each choice and compare them side by side. We are glad to share lenders our clients have used.
FAQ
Do I have to be a first-time buyer?
Some programs are for first-time buyers only, and the rules differ. Ask your lender how they define it.
Can a seller help with my costs?
Sometimes a seller agrees to help with closing costs as part of the offer. It depends on the loan and the deal.
Should I wait until I have 20%?
That is your call. Ask a lender to show you both paths in numbers.
Call or text Claudia at 703-350-3884 or visit claudiawebb.com.
The Mike Webb Team, RE/MAX Allegiance. Arlington, Virginia. Equal Housing Opportunity.
