Six family homes under $ 50,000 where first-time buyers only need a down payment of $ 1,750

Homeownership can become a reality for first-time buyers with little savings with these great deals under $ 50,000.

If you are single, you will only need a down payment of $ 1,750 (3.5%) for a loan from the Federal Housing Administration (FHA).

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First Time Home Buyers Can Get Homes Under $ 50,000 in Various States in the United States

These mortgages are insured by the government agency, but the lender is the one giving the money – find out more in our guide.

The loans are designed for low to moderate income borrowers and could prove useful as house prices have skyrocketed this year.

The average home price was $ 287,148 in May, but there are family-sized properties available for less that don’t require a huge down payment.

They are spread across the United States, but they are not located in the downtown area and most of them are inexpensive because they need renovations.

But if you don’t mind moving or want to challenge yourself with a renovator, these three and four bedroom properties on Zillow might be worth a look.

Just be sure to factor the renovation costs into your budget and be aware that homes could actually sell for more.

Three beds, New York – $ 29,500

This three bedroom house in New York is yours for $ 29,500

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This three bedroom house in New York is yours for $ 29,500Credit: Zillow
The property is in need of renovation so be sure to factor this into your budget

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The property is in need of renovation so be sure to factor this into your budget

In New York state you can get this three bedroom house with a bath for $ 29,500.

This means that you only need $ 1,032.50 in savings if you qualify for an FHA loan with a 3.5% down payment.

The property listing does admit, however, that the house “needs a lot of interior and exterior work” so keep that in mind before you splash around.

The yellow house is distributed over two floors and is located in the neighborhood of Elmira Heights.

Three beds, South Dakota – $ 29,900

This three bedroom home in South Dakota is on the market for $ 29,900

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This three bedroom home in South Dakota is on the market for $ 29,900Credit: Zillow
The property can be moved into immediately

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The property can be moved into immediately

For an additional $ 400, you can buy more than one habitable home in Pierre, South Dakota for $ 29,900.

Located on leased land, the three bedroom property comes with a huge master bedroom suite and an open floor plan.

You may want to invest in new carpet and improve the floor, but the property is considered a “very livable home”.

It comes with double front decks for enjoying the outdoors and also includes a shed for storage.

Four beds, Indiana – $ 32,500

You can get a four bedroom property in Indiana for just $ 32,500

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You can get a four bedroom property in Indiana for just $ 32,500Credit: Zillow
It was built in 1920 but you will need a lot of work before you can move in

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It was built in 1920 but you will need a lot of work before you can move in

You can get a four bedroom property in Michigan City, Indiana for $ 32,500, which means you’ll only need $ 1,137.50 for a 3.5% down payment.

It was built in 1920, but you’ll need a lot of work before you can move in.

The property consists of three units, two of which are in the front building.

Unit one is a twin bedroom with an en-suite bathroom while unit two is upstairs and includes a bedroom and a bathroom.

The third unit, an independent rear house, also includes a bed and a bathroom.

Three beds, Florida – $ 44,000

This three bedroom property is located in Forth Pierce Florida

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This three bedroom property is located in Forth Pierce FloridaCredit: Zillow
The master bedroom has a walk-in closet and a private bathroom with garden bath and walk-in shower

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The master bedroom has a walk-in closet and a private bathroom with garden bath and walk-in shower

If you are the happiest on the coast then this three rooms, two public baths in Florida may be just what you are looking for.

Located in Fort Pierce, it was listed on Zillow for $ 44,000.

The master bedroom has a walk-in closet and an en suite bathroom with a garden tub and walk-in shower.

The second and third bedrooms are at the other end of the house, which also has a covered carport.

Three beds, California – $ 49,000

Another option closer to the sea is this three bedroom, three bathroom California home.

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Another option closer to the sea is this three bedroom, three bathroom California home.
The Zillow list indicates that she needs

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Zillow list says she needs “finishing touches”

Another option closer to the sea is the following three bedroom house with three bathrooms in Fallbrook, California.

The property is available for $ 49,000 so it is on the top end of your budget if you only have it for a 3.5% down payment.

The Zillow List says it needs a few “finishing touches,” but it should be big enough for the whole family.

It has a huge backyard with a shed and a view of downtown Fallbrook.

Three beds, Washington – $ 49,900

In Washington, you can get this three bedroom home for just under $ 50,000

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In Washington, you can get this three bedroom home for just under $ 50,000Credit: Zillow
The kitchen is dated but the property can be moved in straight away

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The kitchen is dated but the property can be moved in straight away

Families in Washington or those happy to relocate to the state can get a three bedroom house for $ 49,900.

It comes with off street parking, an open patio and no rear neighbors.

The kitchen is dated but the property can be moved into immediately.

You might also be happy to know that kitchen appliances, as well as the shed, washer and dryer can be included.

We tell you how much money you will need for a down payment, depending on the mortgage you are looking for.

Some borrowers must repay part of their initial mortgage insurance premiums if they have not defaulted on their FHA loans.

Earlier this year, a super saver revealed how she bought her first home at age 23 with low income and an average credit score.

Thrifty Woman Makes Home Visit After Saving $ 20,000 In Just SIX MONTHS for a Down Payment

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