Low down payment options

Conventional programs like HomeReady and Home Possible, plus FHA, VA, and USDA. A smaller down payment doesn't have to mean a worse loan.

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Foto: Thomson200 · CC0 · Wikimedia Commons

Nota: Página en español pendiente: esta página se publicará en español después de la revisión de un oficial de préstamo bilingüe. A continuación se muestra la versión en inglés.

Who it's for

Buyers who have income but not a large amount saved.

How it works

We compare the programs side by side: the monthly cost including mortgage insurance, the cash to close, and how long the mortgage insurance lasts.
Conventional low-down-payment programs let you drop mortgage insurance once you reach enough equity.

What you'll need

Standard documents
Sometimes an income limit, depending on the program

Common questions

Is mortgage insurance bad?

It's a cost that buys you time. Paying it for a few years often costs less than renting while you save a larger down payment.

Por diseño, esta página no muestra tasas, APR, pagos ni porcentajes de pago inicial. Esas cifras solo se publican con la divulgación completa exigida por la Regulación Z.

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