Low Down Payment Home Loans

A smaller down payment can leave more room for moving expenses, repairs and emergency savings. Eligible conventional and FHA programs offer low down payment options, with different requirements and costs. The down payment is not the full cash needed to close. Your best option depends on your credit, income, property and available funds. Compare the entire payment and total borrowing costs, including any mortgage insurance, rather than choosing a loan based only on its minimum down payment. We can review the trade-offs and help you understand the next steps.

Who Is Low Down Payment Financing Best For?

This may be worth exploring if you have dependable income but want to preserve savings, are purchasing your first home, or are returning to homeownership. Eligibility varies by program. We will review your circumstances before determining which options are available and whether a larger down payment would improve the overall numbers.

Examples:

• First-time buyers building savings.

• Buyers preserving an emergency fund.

• Buyers comparing assistance and gift-fund options.

Credit, income, property and lender requirements apply. Closing costs and prepaid expenses are additional; approval is not guaranteed.