Buy a home · Down payment options
Low Down Payment Purchase Options
A smaller down payment may be an option. Let’s compare the cash needed upfront, monthly costs and eligibility for the available programs.
Takes about 2 minutes. A quick inquiry, not a loan application.
Who it's for
You may not need a large down payment to buy a home.
Several loan programs offer lower down payment options for eligible borrowers. The right one depends on your situation, the property and program rules.
Conventional options
Some eligible conventional programs offer lower down payment options. First-time buyer, income, education and property requirements depend on the program, and private mortgage insurance generally applies with a smaller down payment. Explore conventional loans.
FHA loans
Eligible FHA borrowers may qualify with a lower down payment. Credit, property and lender requirements apply, and FHA includes upfront and annual mortgage insurance premiums, so compare the full cost alongside conventional options. Explore FHA loans.
VA and USDA loans
Eligible veterans, service members and some surviving spouses, and eligible USDA borrowers in qualifying areas, may have flexible down payment options. Entitlement, income, location and lender requirements apply, and funding or guarantee fees may apply. VA loans · USDA loans.
The details
Plan for more than the down payment
Closing costs, prepaid taxes and insurance, moving expenses and any required reserves also matter. Gifts, seller contributions or assistance may be allowed under program rules. Even with a smaller down payment, you will still need funds for closing costs and other expenses.
We will help you compare options based on your savings, goals and monthly budget. Financing is subject to lender approval. For independent information, see the Fannie Mae and HUD FHA resources.
New to buying? Start with our first-time home buyer guide.
What we compare with you
- Cash needed upfront, not just the down payment
- Mortgage insurance and fees across programs
- Monthly cost and long-term cost
- Eligibility for each program
How it works
One conversation. Many lenders. Your choice.
As a broker, we don’t have one loan to sell you. We compare programs across lenders and walk you through the trade-offs in plain language.
Tell us your goal
A short inquiry: what you want to do, and how to reach you.
We review your options
A licensed loan officer looks at programs across our lender network.
You choose
Compare the trade-offs side by side. No pressure to move forward.
We guide you to closing
Application, processing and underwriting, with one team keeping you updated.
How much do I need for a down payment?
It depends on the program, the property and your situation. We’ll walk you through what each option requires.
Can a gift help with my down payment?
Gifts, seller contributions or assistance may be allowed under program rules. We will walk you through what applies to you.
Do I need cash besides the down payment?
Yes. Plan for closing costs, prepaid taxes and insurance, moving expenses and any required reserves.
How long does the mortgage process take?
It varies with the loan program and your application. Once we review your situation, a licensed loan officer will walk you through what to expect.
Compare programs
Explore other loan programs
Program availability, eligibility and guidelines vary by lender and may change without notice. All loans are subject to credit approval, underwriting guidelines and property eligibility. This is not a commitment to lend.
See what's possible for your next move.
Two minutes to tell us your goal. A licensed loan officer follows up personally.