Loans with Little or No Down Payment

FHA mortgage
FHA mortgages, which are insured by the Federal Housing Administration, make homeownership possible for people who might not qualify for conventional mortgage programs.  They offer:

• Low down payment and closing costs, with the option to use gift money for 100% of the down payment
• Flexible approval requirements for people who have less-than-perfect credit or lack a traditional credit history
• Expanded qualifying ratios for people with low-to-moderate incomes

VA mortgage
VA mortgages, which are insured by the Department of Veterans Affairs, make buying a home easier and more affordable for veterans, reservists, and active-duty service members.  They offer some of the easiest approval requirements of any mortgage, including:

• No down payment requirement, so you can finance 100% of the purchase price
• The option to use gift money or secondary financing
• Flexible credit requirements
• Expanded qualifying ratio

Terms and conditions apply. Some programs may not be available in all states.  State restrictions and limitations may apply. Contact your loan representative for complete details.

Loan Program	How It Works	Why Consider It
FHA mortgage	Requires only 3% for down payment and closing costs, which may come from gifts, grants, or unsecured loans.	An option if you’ve had credit challenges Potentially makes homeownership easier for people with lower incomes
VA mortgage	Government-backed mortgage that lets veterans and eligible family members buy with no down payment.	Rewards military service with homeownership opportunities Income and credit requirements make qualifying easier

Terms and conditions apply. Some programs may not be available in all states.  State restrictions and limitations may apply. Contact your loan representative for complete details.