BorrowSmart - Low Down Payment Program

You may qualify for up to $1,500 in down payment and/or closing cost assistance!

We understand that the expense of a down payment and closing costs can present a challenge for many home buyers. That's why we are introducing BorrowSmart, a new loan program designed to help customers purchase a home with less money out-of-pocket.

BorrowSmart

Check out the features of BorrowSmart, and let’s find out if you qualify today!

  • Eligible borrowers may receive up to $1,500 in credit towards down payment and/or closing costs.
  • Conventional mortgage with less than 3% down (if credit is used towards the down payment).
  • Credit is NOT a grant or second lien but a true lender credit.
  • Gifts and other down payment assistance programs may also be applied where eligible.

Other restrictions apply. Not all borrowers will qualify. Speak to a mortgage consultant for additional information. BorrowSmart is not available in Washington, D.C. Low down payment options may not be the best options for all borrowers. Consult your mortgage consultant to review potential loan scenarios and financing options to determine the home loan that is right for you.

*Not all borrowers will qualify

*Not all borrowers will qualify

More Loan Types

Fixed & adjustable rate mortgages
These are two of the most popular loan types when buying a home or refinancing your mortgage.
Learn more
FHA and VA mortgage programs
Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loans are popular homebuyer...
Learn more
FHA streamline
Allows qualified borrowers to refinance a current FHA mortgage loan to a lower interest rate more quickly and ...
Learn more
VA loans
As a servicemember or veteran of the United States military, your duty has been to support and defend our ...
Learn more
Rapid Close ™
RAPID CLOSE is Prosperity's trusted platform for closing loans fast. Powered by Simplifile®, RAPID CLOSE allows ...
Learn more
Uplift
Our Uplift program ensures all FHA and VA qualified customers receive low rates and fees, which will reduce ...
Learn more
USDA Loans
Offers eligible borrowers in rural areas with no-down-payment financing options. These loans must meet certain criteria.
Learn more
Jumbo (Non-Conforming) Loans
Provide financing for loan amounts higher than the maximum conforming limits set by Fannie Mae and Freddie Mac.
Learn more
FNMA HomeReady ™
FNMA HomeReady™ by Fannie Mae is designed to help qualified borrowers in designated low-income, minority, and ...
Learn more
First Time Homebuyer Loan Options
Great news! With the many options now available for qualified buyers, you may be able to buy a home sooner...
Learn more
Low Down Payment
Qualified first-time home buyers may be able to get a conventional loan for as little as a 3% down.
Learn more
FHA Streamline
Allows qualified borrowers to refinance a current FHA mortgage loan to a lower interest rate more quickly and ...
Learn more
USDA Loans
Offers eligible borrowers in rural areas with no-down-payment financing options. These loans must meet certain criteria.
Learn more
3% Down First Time Homebuyer Program
Is your savings account standing between you and homeownership? We may be able to help.
Learn more
The Prosperity Buyer Advantage
Getting pre-approved for a mortgage is a great place to start when buying a home, but if you want your offer to ...
Learn more
Lock, Shop & Home
We understand rising interest rates are a concern while searching for a home, but our Lock, Shop & Home program may ...
Learn more
XLR8
XLR8 is an expedited mortgage approval process designed to allow us to verify a borrower’s credit, assets and ...
Learn more
BorrowSmart - Low Down Payment Program
You may qualify for up to $1,500 in down payment and/or closing cost assistance!
Learn more
Real Estate Investor Loan Programs
Let us help you reach your real estate investment goals with a variety of different programs.
Learn more
Good Neighbor Next Door
Contribute to the revitalization of your community while becoming a homeowner.
Learn more
Wedding Gift Funds
Planning your wedding or just married? Congratulations! If you’ve decided the next step in your life together will ...
Learn more
The Prosperity Buyer Advantage
If you know what to expect, finding and financing your first home can be an exciting and rewarding experience!
Learn more
Calculate Your Mortgage Payment
Find out what your monthly payment will be with applicable finance charges, PMI, hazard insurance, and property taxes.
Learn more
Basics of Buying
Follow these helpful tips when applying for a mortgage to help make the process go smoothly.
Learn more
Things to Provide: Document Checklist
Use this handy checklist to gather documents for your home loan.
Learn more
Mortgage Process Roadmap
Wondering what to expect from start to finish when it comes to obtaining financing for your mortgage? Find out below.
Learn more
Understanding Your Credit Score
Learn about the 5 components that determine your credit score and how to manage it.
Learn more
Mortgage Glossary
Not sure what appraisal, escrow or private mortgage insurance are? Find out about these mortgage terms and more.
Learn more