Down Payment Guide

New Home

Overview of minimum down payments for a Mortgage Loan?


The following are among the down payment loan programs being offered today. They range from Conventional, FHA, VA loan programs. As a general rule, the down payment funds must be sourced.

The lender will want to know where it came from. If the source of funds cannot be proven through acceptable documentation such as a check draft, wire transfer, bank transfer, employment, your loan application may be denied.

See 5% Down and 10% down Mortgages Below

Keep in mind that this is not an offer for extension of credit or a commitment to lend. Loans are available if you are qualified. Borrowers are subject to credit and underwriting approval. Not all borrowers will be approved for financing. APR depends on your credit score and loan type either an ARM or fixed-rate mortgage.

Available for Purchase or Refinance

Down Payments for Owner Occupied properties
Loan Product Down Payment Financing up to Credit Score Down Payment Gift Allowed? Max Loan Amount Eligible Property Types
Conv 97 3% 97% 680+** Yes, blood relative ONLY $484,350 SFR, Condo, Townhouse
Conv 5% 95% 620+** No $510,400 SFR, Condo, Townhouse
High Balance 5% 95% 660+** No $764,500 SFR, Condo, Townhouse
FHA 10% 90% 500-579 No $510,400 SFR, Condo, Townhouse
FHA 3,5% 96.5% 620+ Yes to 3% $764,500 SFR, Condo, Townhome,Duplex Triplex, Fourplex
VA 0% 100% No minimum or 620+ Yes to 3% $764,500 SFR, Condo, Townhome, Duplex Triplex, Fourplex
Bank Statement Only 35% 65% No minimum or 680+ Yes $2,000,000 SFR, Condo, Townhome, Duplex Triplex, Fourplex

* Loan amount may be higher for 2 to 4 unit properties.

** If receiving gift for down payment, then credit needed is 720