VA Beach Named No. 1 in the Country for Lowest Down Payment

If you’re thinking of buying a new home, you need less money than you think. Realtor.com recently published research announcing housing markets with the biggest and smallest down payments. We are excited to announce that Virginia Beach was named No. 1 in the country for the lowest down payments on new homes! For decades, it has been a golden rule that when purchasing a home, the buyer puts 20 percent down. Luckily, times have changed, and down payment amounts are lower than ever, as well as interest rates. Virginia Beach has a reputation for making people of any age group feel at home in this friendly city. Our military is no exception. There are several loan programs available that allow buyers to choose almost any down payment amount they would like. In fact, when purchasing with a U.S. Department of Veterans Affairs home loans, active and former military mebers do not require any down payment.

Located in the heart of Virginia Beach are our deluxe communities inside the master-planned Spence Crossing community. Offering 3-4 bedroom single-family homes, Halstead is perfect for a growing family or a multigenerational household. Mallory at Spence Crossing features low-maintenance townhome living with two to four bedrooms, attached garages, private decks and open, airy layouts. Lastly, the stylish, affordable new homes at Fernhill offer two bedrooms with open, airy living spaces and private patios. Down payments are scary, but they don’t have to be when purchasing in a new Dragas community! Stop by our model homes, open daily, for a personal tour. For more information, visit www.dragas.com/virginia-beach. To learn more about getting pre-approved for your mortgage or what your down payment options may be, learn more from Dragas Mortgage online.