Low Down Payment Purchase Options
Purchase a home with as little as 0% down. Multiple programs available to fit your situation and help you become a homeowner sooner.
You don't need to save for years to buy a home. Low down payment programs make homeownership accessible by reducing the upfront cash required. Whether you're a first-time buyer or moving up to a new home, these programs can help you get into a house sooner while keeping more cash in your pocket for moving, furniture, and emergencies.
Benefits of Low Down Payment Loans
Less Cash Upfront
Buy a home with as little as 0% down, dramatically reducing the time it takes to save for homeownership.
Become a Homeowner Sooner
Stop waiting and start building equity today instead of spending years saving for a traditional 20% down payment.
Keep Cash Reserves
Maintain savings for furniture, repairs, moving costs, and financial emergencies after closing.
Multiple Program Options
Various loan types offer low down payments, so you can choose the one that best fits your situation.
Our In-House Down Payment Assistance Program
100% Financing with 0% Down Payment
Purchase your home with absolutely nothing down through our exclusive down payment assistance loan program. This innovative financing solution combines a 1st and 2nd mortgage to provide you with 100% financing, so you can move into your new home without any upfront down payment (closing costs still required).
Zero Down Payment Required
Purchase with 0% down through our 1st and 2nd mortgage structure
Works with FHA Loans
Can be combined with FHA financing for maximum flexibility
No Income Limitations
Available to borrowers at all income levels
Lower Credit Scores Accepted
More flexible credit requirements than traditional loans
Low Mortgage Insurance
Benefit from lower mortgage insurance adjustments
Competitive 2nd Mortgage Rate
10-year term with competitive interest rate on the 2nd
How It Works
The 2nd mortgage covers up to 3.5% of the lesser of the sales price or appraised value, eliminating your down payment requirement. The term for the 2nd mortgage is 10 years with a competitive interest rate. This program is perfect for first-time homebuyers and those with less than perfect credit who want to become homeowners without years of saving.
Additional Low Down Payment Options
- Conventional 97% LTV:Put down just 3% on a conventional loan. Available for first-time buyers and repeat buyers in certain situations.
- FHA Loans:3.5% down payment with flexible credit requirements. Ideal for borrowers with limited savings or lower credit scores.
- VA Loans (0% Down):Veterans, active military, and eligible spouses can purchase with no down payment and no mortgage insurance.
- USDA Loans (0% Down):Zero down payment for eligible rural and suburban properties with income requirements.
- State & Local Assistance Programs:Many state and local programs offer grants or low-interest loans to help cover down payment and closing costs.
💡Understanding Mortgage Insurance
Loans with less than 20% down typically require mortgage insurance (PMI or MIP) to protect the lender. While this adds to your monthly payment, it's often a worthwhile trade-off for getting into a home sooner. As you build equity, you may be able to remove PMI on conventional loans.
Which Program Is Right for You?
The best low down payment option depends on your credit score, income, property location, and financial goals. Our mortgage specialists will compare programs, explain the pros and cons of each, and help you choose the option that saves you the most money while meeting your needs.