Down Payment Options as Low as 3-5%
When most people think of Conventional Loans, they think about a 20% down payment. However, 20% down is not always required. Conventional Loans also offer a 5% down payment option when paired with private mortgage insurance (PMI). You can also choose between a fixed rate or adjustable rate.
For those with low- to moderate-income, there are several programs that offer financing with as low as a 3% down payment:
Both programs are similar, but each has slightly different qualification requirements.
Conventional Renovation Loans
Interested in purchasing a fixer-upper? We offer renovation loans through Fannie and Freddie! The Fannie Mae HomeStyle and Freddie Mac CHOICERenovation® programs allow you to cover the cost of the purchase and renovation in one loan. Or you can use a renovation loan to make upgrades to an existing property.
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