Les Couleurs De Luce http://lescouleursdeluce.com/ Thu, 21 Oct 2021 15:25:10 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://lescouleursdeluce.com/wp-content/uploads/2021/08/icon.png Les Couleurs De Luce http://lescouleursdeluce.com/ 32 32 Up to 9.9% CAGR, Biometric System Payments Market Share https://lescouleursdeluce.com/up-to-9-9-cagr-biometric-system-payments-market-share/ https://lescouleursdeluce.com/up-to-9-9-cagr-biometric-system-payments-market-share/#respond Thu, 21 Oct 2021 13:24:31 +0000 https://lescouleursdeluce.com/up-to-9-9-cagr-biometric-system-payments-market-share/

New York, NY, October 21, 2021 (GLOBE NEWSWIRE) – Facts and Factors has released a new research report titled Biometric Payments Market By Technology (One-Factor Authentication, Fingerprint Recognition, Iris Recognition, Palm Recognition, Facial Recognition, Signature Recognition, Speech Recognition, Biometric and Multimodal Smart Card), By Type (With contact, contactless and hybrid), by Deployment mode (hardware and software) and by regions – Global and regional industrial outlook, full analysis and forecast 2021 – 2026 in its research database

“According to the report, the biometric payment market was valued at around $ 32.4 Billions in 2020 and is expected to reach a value of around 63.4 billion USD by 2026, at a CAGR of around 9.9% between 2021 and 2026. “

Global Biometric Payments Market: Overview

Biometric payments are the systematic reference to initiating a payment method based on the calibration of body measurements and other calculations based on user characteristics. Biometric authentication is often integrated into the IT industry as a means of identification and access control within its ecosystem before a payment method can be initiated. Users often need to sign up for the service and register their chosen form of biometrics with their bank’s onboarding process for this advanced payment format to work.

Biometric payment is a kind of point of sale technique that uses biometric authentication to recognize the end user and authorize the withdrawal of funds from the end user or customer bank account. In addition, biometric fingerprint payment is the most commonly used biometric payment method.

Request your free sample report on the Global Biometric Payments Market @ https://www.fnfresearch.com/sample/biometric-payment-market-by-component-hardware-and-software

(The free sample of this report is readily available upon request).

Our free sample report includes:

  • [185+ Pages Report] with a list of tables and figures
  • Analysis of the pre and post COVID-19 commercial impact
  • Profiles of key market players with sales and revenue analysis
  • Regional analysis using tables and graphs
  • Easy to understand graphical data
  • Key segments, industry drivers, challenges and opportunities in the global and regional market
  • Research methodology

(Note: The sample in this report is updated with the COVID-19 impact analysis before delivery)

Major players in the industry market

  • Thales
  • Saffron
  • NCA
  • ASSA ABOLY
  • Fujitsu
  • Precise biometrics
  • NXP semiconductors
  • Linxens
  • ZWIPE
  • IDEMIA
  • Cardlab
  • Gemalto SA
  • Konal

For an additional revised list of key players in the 2020-2021 market, request a sample report: https://www.fnfresearch.com/sample/biometric-payment-market-by-component-hardware-and-software

Key questions answered in this report:

  • What is the projected size and share of the biometric payments market?
  • What are the major driving factors driving the growth of the Biometric Payment market?
  • Who are the main players in the Biometric Payment Market?
  • How many segments are analyzed in the biometric payments market?
  • Can I get a Free Sample Custom Biometric Payment Market Report?

Buy a copy of the report directly with TOC @ https://www.fnfresearch.com/buynow/su/biometric-payment-market-by-component-hardware-and-software

Global Biometric Payments Market: Growth Factors

The significant growth of the global biometric payments market increases the biometrics use case scenarios in the consumer electronics industry, coupled with increasing formats of authentication and identification devices to never name a few. In addition, the growing need for surveillance and security measures coupled with an increased threat from external threats such as terrorist attacks is expected to testify to the footprint of the global biometric payments market during the forecast period. In addition, an increased rate of adoption of biometric applications and devices, coupled with factors relating to fast, convenient and secure solutions, will drive the growth of global biometric payment during the forecast period.

Increased threats resulting from international terrorism, organized crime and illegal migration are expected to boost the global biometric payments market during the forecast period. Easy installation solutions coupled with low labor intensive will fuel the growth of the global biometric payments market during the forecast span. Growing concerns among consumers while making electronic payments on secure servers coupled with ease of convenience will further increase the consumer base for the global biometric payments market over the forecast. However, higher installation and deployment cost is expected to reduce the market value of the market to some extent.

Request a personalized copy of the report @ https://www.fnfresearch.com/customization/biometric-payment-market-by-component-hardware-and-software

(We customize your report to suit your research needs. Ask our sales team to customize the report.)

Global Biometric Payments Market: Scope of the Report

Report attribute Details
Market size 2020 value $ 32.4 Billion
Market forecast for 2026 $ 63.4 billion
Expected CAGR growth CAGR 9.9% from 2021-2026
Year of reference 2020
Forecast year 2021-2026
Best market players Thales, Safran, NEC, ASSA ABOLY, Fujitsu, Precise Biometrics, NXP Semiconductors, Linxens and others
Covered segments Technology, types, mode of deployment and region
Geographical areas covered North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Pricing options Request personalized purchasing options to meet your research needs. Explore purchasing options

Global Biometric Payments Market: Segmentation

The global biometric payment market can be segmented into technology, type, deployment model, and regions.

The global biometric payments market can be divided into one-factor authentication, fingerprint recognition, iris recognition, palm recognition, facial recognition, signature recognition, voice recognition, biometric and multimodal smart card on the basis of technology. The segment related to Single Factor Authentication is expected to gain the largest market share in the advent of forecast due to increasing convenience, cost effective metrics and fast response time in terms of functionality, to name a few. The global biometric payments market is categorized into contact, contactless, and hybrid types. The hybrid segment is expected to occupy the largest market share during the advent of forecasts due to the increasing adoption of efficient and reliable biometric solutions coupled with increased security incentives against identity theft and attempts. intrusion linked to counterfeiting. The global biometric payments market may be fragmented in hardware and software based on the deployment model. Software category is expected to experience the largest market share in the advent of forecast due to increased adoption of cloud-based services coupled with AI-related adoption metrics in the biometric device industry to name a few.

Inquire About This Report Before Purchase @ https://www.fnfresearch.com/inquiry/biometric-payment-market-by-component-hardware-and-software

(You can request a report quote OR available discount offers from our sales team prior to purchase.)

Global Biometric Payment Market: Regional Analysis

Asia-Pacific is expected to experience the largest market share on the advent of the forecast due to the rapid economic growth of emerging economies such as China, India, Japan and South Korea coupled with the progress growing technologies, to name a few. Additionally, growing consumer awareness of the increased security gains achieved through biometric payment solutions, coupled with reduced pricing options for these devices, will increase the biometric payments market footprint in the region over the period of time. forecast. The increased deployment of biometric payment devices in airports, banks, ATMs and other public places, along with supportive government initiatives undertaken to increase the impact of biometric payment devices will further stimulate the growth of the biometric payment market in the region. The emergence of reliable suppliers in the region coupled with increased penetration of international players in the region will lead to a considerable market share during the forecast period.

Browse the entirety “Biometric Payments Market by Technology (One-Factor Authentication, Fingerprint Recognition, Iris Recognition, Palm Recognition, Facial Recognition, Signature Recognition, Speech Recognition, Biometric and Multimodal Smart Card), by Type ( with contact, contactless and hybrid), By mode of deployment (hardware and software) and by regions – Global and regional industrial outlook, full analysis and forecast 2021 – 2026 “ Report to https://www.fnfresearch.com/biometric-payment-market-by-component-hardware-and-software

Global Biometric Payments Market: Analysis by Technology Segment

  • One-factor authentication
  • Fingerprint recognition
  • Iris recognition
  • Palm recognition
  • Face recognition
  • Signature recognition
  • Speech Recognition
  • Biometric smart card
  • Multimodal

Global Biometric Payments Market: Segment Analysis by Type

  • Contact-based
  • Without contact
  • Hybrid

Global Biometric Payments Market: Analysis by Deployment Mode Segment

For media inquiries, send mail to: sales@fnfresearch.com

About Facts & Factors (FnF Research):

Facts and Factors is a leading market research organization providing industry expertise and scrupulous advisory services to clients for their business development. Facts and Factors reports and services are used by prestigious academic institutions, start-ups and companies around the world to measure and understand changing international and regional business contexts.

The conviction of our clients / clients on our solutions and services has driven us to always offer the best. Our advanced research solutions have helped them make appropriate decisions and guide them in their business expansion strategies.

Follow us on LinkedIn: https://www.linkedin.com/company/fnfresearch

Follow us on twitter : https://twitter.com/fnfresearch

Contact us:

Sanu Thomas

United States: + 1-347-989-3985

E-mail: sales@fnfresearch.com

The Web: https://www.fnfresearch.com

Blog: http://fnfnewsblog.com


Source link

]]>
https://lescouleursdeluce.com/up-to-9-9-cagr-biometric-system-payments-market-share/feed/ 0
exports: how to file complaints for non-payment of goods already shipped https://lescouleursdeluce.com/exports-how-to-file-complaints-for-non-payment-of-goods-already-shipped/ https://lescouleursdeluce.com/exports-how-to-file-complaints-for-non-payment-of-goods-already-shipped/#respond Thu, 21 Oct 2021 05:19:00 +0000 https://lescouleursdeluce.com/exports-how-to-file-complaints-for-non-payment-of-goods-already-shipped/ Exporters often face the problem of receiving late payment or not receiving payment for goods shipped to overseas buyers. Mitigating payment risk is one of the biggest challenges in export transactions, according to exporters.

It is imperative that exporters be especially careful when choosing a method to receive payments, as this in itself can be a form of risk mitigation. Given the large number of cases of non-payment for goods already shipped or shipped, exporters should understand the legal resources available in such situations.

Recourse available to exporters

In the event of non-payment for goods already shipped, experts say there are some key Indian organizations an exporter can contact. Purushottam Anand, Assistant Professor of Law and Associate Dean (Clinical Legal Education), IFIM Law School, says the key government organization that deals with foreign trade issues is the General Directorate of Foreign Trade (DGFT). To settle disputes amicably, in 2019 the DGFT set up an online service module called Quality Complaints and Trade Disputes (QCTD) to which importers and exporters can address their complaints.

On a practical note, Arjun Ranga, Managing Director of Cycle Pure Agarbathi, says that with DGFT, an exporter must file a complaint with the Federation of Indian Export Organizations (FIEO). FIEO and DGFT will blacklist stray importers after investigation. Exporters can also file a complaint with the Indian Embassy in the importing country. This will force the trade wing of the importing country to pressure the corresponding trade organizations to take action against importers, says Ranga, who exports to more than 65 countries.

Usually, trade issues are covered by international trade dispute settlement mechanisms if the parties agreed to arbitrate through this channel in the sales contract. But, for small businesses, international commercial arbitration can be disproportionately expensive, Anand says.

According to Ranga, international organizations such as MAH International Corporation in Switzerland are also useful and effective if exporters have the right documentation and communication support and follow-up. However, this process is costly because these debt collection agencies follow a negotiation approach, rather than the legal process, in order to preserve the relationship between the disputing parties. In most cases, importers make payments to avoid damaging their reputation.

However, the process is likely to take a long time for a new exporter. Exporters have to go through a long process even though they have validated each level of documentation with various organizations. According to Ranga, it is not easy for exporters. He therefore suggests insurance coverage approved by the Export Credit Guarantee Corporation (ECGC) as an ideal option for a novice exporter who has shipped the goods ahead of payments – i.e. shipping without prepayments / payments not covered by the conditions of documents against payment. .

Is the process simple or cumbersome for a novice exporter?

The process provided by the DGFT is quite transparent. Exporters can file their complaints on the DGFT website, and under the Services tab, go to the Quality complaints and commercial disputes section and download all the supporting documents. “The complaint is then forwarded to the respective Indian Mission Abroad (IMA) in the country of action,” explains Anand of IFIM. The website also provides a user manual and a virtual chat service, in addition to a toll-free number dedicated to aggrieved exporters. This is a free service and no administrative fees are required to file a complaint under the QCTD module.

Common problems while disputing non-payment and their solutions

Exporters make common mistakes when they dispute payment defaults for goods already shipped. Many exporters fail to keep or provide sufficient supporting documents while contesting non-payments, explains IFIM’s faculty. Even in cases involving payments via letter of credit or escrow services, money can only be released upon presentation of shipping documents or other required documents. In the DGFT portal, complaints filed without providing sufficient details or documents may be marked as “deficient”, but another possibility is offered to modify and resubmit the complaint.

So prevention is better than cure, according to Anand of IFIM. This is especially true in international sales transactions. Exporters should choose the payment method with the utmost caution and should also consider payment instruments, including letters of credit and escrow services, which involve a lower risk of default. Other mitigation measures that can be adopted include cargo insurance and the engagement of a trustworthy service provider (such as banks, freight forwarders, shipping lines and intermodal transport providers), explains Anand. “It’s also a smart decision to always start processing prepayment terms until you get to know the buyer. Make sure you are selling quality products as this will be the buyer’s main excuse for non-payment. One could consider using international certification agencies such as SGS or Intertek to have products certified before export, Ranga says. Exporters must also strictly follow all documentation procedures and also take ECGC coverage.

Experts say it is imperative that exporters are fully aware of the company they are dealing with. Vikas Singh Chauhan, director of the HomeTextile Exporters Welfare Association (HEWA), asks traders to do extensive homework before sending shipments to overseas buyers. Exporters should be familiar with the policies of the destination countries. “Recently, members exporting to Sri Lanka said that overseas remittances are limited in that country. Earlier we also saw the problem of payment due to the currency restrictions in Nigeria and Algeria. The worst part is that in case of non-payment in some countries, you cannot bring your goods back due to the complex customs policies there, so the exporters lose almost all the money, ”he adds. he.

Chauhan points out that in the case of textiles, exporters sometimes have the option of reselling the goods to others if the original buyer does not pay. But in the case of agri-food products, exporters can lose their entire shipment if they don’t take precautions like ECGC insurance. He therefore suggests that exporters do not give credit to buyers in the first deal. Even opting for down payment terms on the first two transactions can be very risky. “Bank guarantees or letters of credit are the best option. Otherwise, get an advance of 20 to 30% of the value of the transaction and get the rest on the copy of the bill of lading or by bank transfer after checking beforehand and taking insurance cover on the customer, ”he adds. .

Source link

]]>
https://lescouleursdeluce.com/exports-how-to-file-complaints-for-non-payment-of-goods-already-shipped/feed/ 0
Gencos loses 1.66 billion naira for non-payment of unused electricity https://lescouleursdeluce.com/gencos-loses-1-66-billion-naira-for-non-payment-of-unused-electricity/ https://lescouleursdeluce.com/gencos-loses-1-66-billion-naira-for-non-payment-of-unused-electricity/#respond Wed, 20 Oct 2021 23:17:53 +0000 https://lescouleursdeluce.com/gencos-loses-1-66-billion-naira-for-non-payment-of-unused-electricity/

Power companies in Nigeria said they suffered a loss of 1.66 billion naira in seven years due to non-payment of deemed capacity.

The executive secretary of the Association of Power Generation Companies, the umbrella body of the Gencos, Dr Joy Ogaji, revealed this on Wednesday at a stakeholder meeting on the regulators’ oversight program on electricity hosted by the Wole Soyinka Center for Investigative Journalism.

Ogaji said available generation capacity fell to 6,192.34 megawatts this year, from 7,792.51 MW in 2020, while average generation capacity increased from 4,050.07 MW to 4,120.96 MW. .

According to the APGC, inferred capacity is the capacity that should have been delivered, had it not been for the grid operator’s instruction to a Genco to downgrade or reduce its capacity to achieve grid balance and stability.

According to her, 34.20% (2,117.86 MW) of the production capacity of Gencos is currently blocked, against 48.03% (3,742.43 MW) in 2020.

She said that Gencos recorded a capacity payment loss of N 151.22 billion this year, N 266.10 billion in 2020, N 256.97 billion in 2019, N 264.08 billion in 2018. , N 236.47 billion in 2017, N 273.32 billion in 2016 and N 214.93 billion in 2015.

Nigerian government company Bulk Electricity Trading Plc buys bulk electricity from Gencos through power purchase agreements and sells it through acquisition contracts to distribution companies, who then supply it to the distributors. consumers.

Regarding the blocked generation capacity, Ogaji said, “The generation companies are ready to make this electricity available, but the system is not able to take it. So whether or not it is because Nigerians are not taking power or they are unable to pay or we have infrastructure issues, this is what the government needs to investigate and resolve because that’s eight years after privatization.

According to her, the installed production capacity at Gencos plants is around 13,427 MW.

She said: “So if we are able to use what is already available, which is around 8,000 MW, that will give the generation companies a boost to bring in the rest. But for the past eight years, we’ve been just between 3,000 MW and 3,500 MW and a maximum of 4,000 MW. We are not making progress.

“Generation companies also have expansion capacity to double those 13,427 MW. What is happening does not encourage them to stimulate it, and their activity is, so to speak, stagnant. This is in addition to not getting paid for what has already been used.

Ogaji estimated the average annual growth in the use of available generating capacity at 100 MW.

WSCIJ Executive Director / CEO Motunrayo Alaka said REMOP was designed as a media initiative to monitor and report on the activities of government agencies, ministries and institutions that have responsibility for exercise supervisory functions on particular sectors and / or problems.

“The pilot phase of the program focused on basic education and electricity through the Universal Basic Education Commission and the Nigerian Electricity Regulatory Commission. The WSCIJ is implementing REMOP with the support of the MacArthur Foundation, ”she added.

Copyright PUNCH

All rights reserved. This material and any other digital content on this website may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without the express prior written permission of PUNCH.

Contact: [email protected]

Source link

]]>
https://lescouleursdeluce.com/gencos-loses-1-66-billion-naira-for-non-payment-of-unused-electricity/feed/ 0
Home prices are rising faster than your down payment. Here is what you can do. https://lescouleursdeluce.com/home-prices-are-rising-faster-than-your-down-payment-here-is-what-you-can-do/ https://lescouleursdeluce.com/home-prices-are-rising-faster-than-your-down-payment-here-is-what-you-can-do/#respond Wed, 20 Oct 2021 11:03:45 +0000 https://lescouleursdeluce.com/home-prices-are-rising-faster-than-your-down-payment-here-is-what-you-can-do/

If you’re trying to break into the housing market right now, you might find that your down payment isn’t going as far as you thought. Record hikes in house prices mean that the goals you set for saving, say, 20% of the purchase price of your home may no longer reduce it.

Here’s what you need to know about what’s going on in the housing market and how to do it.

It all comes down to a few factors: the limited supply of housing and a large number of motivated buyers are putting pressure on house prices. Low mortgage rates mean most buyers can afford to borrow more than they otherwise would, further increasing the pressure, and inflation is pushing up purchasing costs for just about everything in everyone. domains.

Sellers rejoice, but for buyers (aside from low mortgage rates) it can be difficult to navigate a lot.

“This past year has been brutal, especially for the first-time homebuyers market,” said Matt Woods, co-founder and CEO of SOLD.com.

READ MORE: The supply of homes for sale around Philly is expected to remain low for some time

Most experts agree that the pandemic has led to a tough market for buyers, but there are signs that things may finally calm down. Either way, this almost straight trajectory in house prices seems quite unsustainable.

“I think of my four children, how on earth will my four children be able to become owners if this is the riddle they are faced with? Woods said.

There are basically three ways to react if your dream home – or even a barely adequate home – is out of reach.

The simpler option, since it is essentially passive, is probably to wait for the market to cool down. This can give you the opportunity to increase your savings, and you may even see house prices drop a bit in your area, which means your funds will go further.

Keep in mind that there are no absolute guarantees in real estate as market conditions are constantly changing, but if you can’t afford to buy now, it probably is not the right time. to dive.

READ MORE: Trying to buy a home in the Philly area hot market? Prepare for battle

“The most important thing to get started is just making the decision whether now is the right decision to buy the home,” says Robert Heck, vice president of mortgages at Morty. “If you have the flexibility and the time, the options are a bit more extensive. “

Focus your affordability calculations on your monthly expenses, not necessarily the overall selling price, he says.

Bankrate’s “How Much Home Can I Afford?” And other similar calculators can help you get started.

“This phase of home appreciation is waning,” added Woods. If you choose to wait, you can use the time it takes to invest money in higher yielding – and, admittedly, higher risk – funds to increase your savings faster.

“Putting money under your mattress isn’t going to help you,” he says. “If you park him in the safest place, you can count on him to not help and grow. If you take advantage of the investment opportunities that are out there, the market has been lenient.

Since the investment market is so dynamic right now, you may even be able to quickly increase your savings with higher risk options. But let’s be clear, the money you need in one to three years is not best suited for riskier investments. That said, if you can take more risk, two options are:

  • Stocks, which are arguably the most traditional investment tool and can produce big returns quickly if you buy the right ones at the right time.

  • Cryptocurrency, which sort of has a moment in the investment realm right now. Keep in mind that crypto valuations have been a bit of a roller coaster, so you could dramatically increase your savings or lose your shirt.

You should talk to a financial advisor about your investment options. Other short-term, high-yielding products may be available, but you’ll want to decide what’s right for you with someone who really knows your situation.

Another option is to edit your Housing Wish List. Everyone wants to get the best home possible in the nicest, most convenient neighborhood they can afford, but if you can be a little more flexible about exactly where to land, it might help you get into. a home faster and at a more affordable price.

“The American dream is so grand, ‘I must own my home forever,'” said Woods. “My advice is that the starting houses are great and maybe you need to be as humble as possible to get into the game.”

Being comfortable with a home from home – or being willing to look in a larger geographic area – will open up more options and maybe allow you to look for places where your savings will perform a little better.

“Try not to get caught up in the exuberance of buying the house, chasing the offer,” Heck says. “Slowing down is important here. “

You may be able to benefit from home buying grants or some start-up businesses that offer new ways to get a mortgage.

Woods says companies like Unison help people move into housing by essentially paying cash on their behalf and paying off the mortgage once the person has moved in. percentage than a traditional lender when you refinance or sell.

Plus, Woods added, you can always go the “make a deal with your rich uncle” route, if you have the chance.

“There are so many different paths you can take, so try to familiarize yourself with as many as possible,” Heck says. Doing your research will help you chart the best course for your own situation.

More traditional avenues for down payment assistance include:

  • FHA loans, which can be secured with as little as 3.5% down payment.

  • VA loans, which can be very beneficial for serving or retired military personnel and their families

  • Local and national first-time home buying programs

READ MORE: Struggling to save for a down payment? Your county government may be able to help

Also keep in mind that many lenders will allow you to get a loan with less than 20% down payment. You may need to pay for private mortgage insurance until you build up more equity, but if you can afford the extra monthly cost, you can still move into a home if your supply is competitive.

In this ultra-competitive market, having a knowledgeable agent as a guide is essential. Most sellers receive multiple offers, many of which may be above the asking price, so it’s important to make sure you’re working with someone who truly understands the market you’re looking for and who can help make your offering this solid. as possible, even if the prices are higher than expected.

A good buying agent will also be able to help you determine how to tailor your search and will be able to adapt if you change what you are looking for as you streamline your budget.

With house prices being pushed up by multiple aggravating factors, this is a difficult market for some buyers. But that doesn’t necessarily mean that it’s impossible to buy; it may just take a little more strategy. Or, you can take a break and come back when the market has cooled down a bit.

Source link

]]>
https://lescouleursdeluce.com/home-prices-are-rising-faster-than-your-down-payment-here-is-what-you-can-do/feed/ 0
5 ways to buy a home with a small down payment https://lescouleursdeluce.com/5-ways-to-buy-a-home-with-a-small-down-payment/ https://lescouleursdeluce.com/5-ways-to-buy-a-home-with-a-small-down-payment/#respond Wed, 20 Oct 2021 07:47:06 +0000 https://lescouleursdeluce.com/5-ways-to-buy-a-home-with-a-small-down-payment/
Luis Molinero / Shutterstock.com

Editor’s Note: This story originally appeared on MortgageResearch.com.

Despite what you may have heard, a 20% down payment is not required to buy a home. Indeed, according to real estate agents, nearly half of home buyers have deposited less than in July 2021. Among first-time buyers? It was 71%.

This is probably a relief if you are considering buying a home yourself. But exactly how did these buyers manage to do it? And what can you do to increase your chances of buying a home with little (or even no) down payment?

Here are a few ways to do this.

1. Buy a USDA eligible home

Well-lit house with smart lights
karamysh / Shutterstock.com

The US Department of Agriculture Loan Program is a low-use option that allows you to buy a home without any down payment. That’s right: no deposit is required.

The catch is, you have to buy in an eligible rural part of the country. It may sound like a dealbreaker, but you would be surprised at what is considered “rural” in the eyes of the government. Many suburban communities are in fact eligible for the program, which could save home buyers thousands (often tens of thousands) of dollars when purchasing their home.

To see where you would be eligible to use a USDA mortgage in your area, check out the USDA map tool.

2. Get down payment assistance

WAYHOME studio / Shutterstock.com

Down payment assistance programs are offered by state and local housing authorities and may pay part or even all of your down payment in some cases. These programs are usually only for low income buyers, but if you qualify, they can save you tons of money.

Some down payment programs work like loans, which you have to pay off monthly or when you sell or refinance the home. In some cases, these loans are repayable if you live in the house long enough (usually three to five years).

Other aid programs are grant-based, which means they don’t need to be repaid at all. Again, these are usually reserved for borrowers with very low incomes.

A quick note: Many agencies also offer assistance with closing costs, which could offset your home buying costs even more. Be sure to ask your lender or the state housing agency if they are available in your area.

3. Use a government-backed mortgage program

Shocked woman at her laptop
ESB Professional / Shutterstock.com

Mortgage programs that are backed by the government can generally go to riskier borrowers (i.e., the government guarantees part of the loan, which means it will (at least partially) repay the lender if you don’t pay back. your mortgage.

USDA loans (mentioned above) are a type of government guaranteed mortgage loan, but other types include FHA loans and VA loan. With Federal Housing Administration loans, a popular product for first-time buyers, your down payment can go as low as 3.5%, or $ 7,000 on a $ 200,000 home. With the loans from the Department of Veterans Affairs, which are only available to veterans and military personnel, you will not make any down payment. However, you will need to meet certain military service requirements to be eligible.

4. Pool money with friends and family

Couple counting money saved by moving to new location
LightField Studios / Shutterstock.com

Most loan programs allow you to use something called “gift money” for your down payment (and closing costs). So if you only saved a small amount, you might be able to ask mom, dad or someone else close to help you save and top up that down payment.

Just make sure the move is well documented (i.e. deposit it in your bank account so there is a paper trail) and ask your loved one for a letter. They’ll need to assure the lender that the funds are a gift – not a loan – before they can be used to purchase your home.

5. Focus on smaller homes, like condos or townhouses

Atlanta, Georgia homes
RodClementPhotography / Shutterstock.com

The amount of your down payment is directly correlated to the price of your home. On a $ 350,000 home, for example, the minimum down payment on an FHA mortgage would be $ 12,250. If you went for a smaller, cheaper location – let’s say one for $ 150,000 instead, you’d only pay $ 5,250 on that same FHA loan.

While it’s not that easy to find a spacious single-family home for $ 150,000 – at least in today’s market, turning to smaller properties can help and reduce your down payment required. Townhouses, condos, and even manufactured homes can all be great options here. Remember: you can still sell in a few years and then use those profits for the down payment in a bigger, more spacious place.

The bottom line

Man working on laptop
Prostock-studio / Shutterstock.com

If you’re strapped for savings, that doesn’t mean buying a home is totally out of reach. As long as you choose the right loan program, focus on the right price range, and take advantage of the various support programs and resources available, homeownership could very well be in your future – and maybe sooner than you think.

Disclosure: The information you read here is always objective. However, sometimes we do receive compensation when you click on links in our stories.