Low Down Payment

Qualified first-time home buyers may be able to get a conventional loan for as little as a 3% down.

1. Conventional Loan with 3% Down

  • Available for conforming and high balance loan amounts
  • Fixed rate mortgages available
  • Gift funds may be permitted up to 3% of the loan amount1
  • Available for 1-unit primary residences only
  • First-time home buyers only2

2. Conventional Loan with 5% Down

  • Available for conforming and high balance loan amounts
  • Fixed & adjustable rate mortgages available
  • Gift funds may be permitted for primary residences and second homes up to 3% of the loan amount1
  • Available for primary residences, second homes, investment properties, townhomes, condos (Fannie & Freddie eligible), and manufactured housing
  • First-time home buyers only2

1. Gift funds permitted for primary residences and second homes only. The donor may not be, or have any affiliation with, the builder, developer, real estate agent, or any other interested party. This includes any family member.

2. A least one borrower must meet Fannie Mae's or Freddie Mac's first-time homebuyer requirements. Homebuyer education is required.

*Not all borrowers will qualify

*Not all borrowers will qualify

*Not all borrowers will qualify

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