See If You Qualify

Licensed in the State of Florida

Licensed in the State of New Jersey  


Down payment to buy a house

Do you want to buy a home with a low down payment?


Should i put down 5% and get a conventional mortgage?

There are 6 different types of programs that you may qualify for. Each program has a different down payment requirement:

  • Fannie Mae minimum down payment 5.0% with above 620 credit score
  • Freddie Mac minimum down payment 5.0% with above 620 credit score
  • FHA minimum down payment 3.5% with above 580 credit score 10% down payment with below 580 credit score
  • VA zero down payment with minimum credit score of 500
  • USDA zero down payment with minimum credit score of 580
  • Portfolio minimum down payment 15.0% with above 720 credit score

FHA requires a minimum down-payment of 3.50% for borrowers with a minimum credit score of 580. FHA requires a minimum down-payment of 10.0% for borrowers with credit scores below 580.

FHA loans have been helping people become homeowners since 1934. The FHA insures the loan, so you can get a better deal.

* Low down-payments

* Low closing costs

* Easy credit qualifying

FHA loans are continuing to support the nation's housing market recovery.

Verified Funds

Borrowers with credit scores above 580 may use their own funds, a gift from a family member, rent credit or borrowed. If you will be using your own funds for the down-payment you will have to provide three recent months statements showing the funds in your account.

If the down-payment will be a gift a signed gift letter will be needed from the giver. Ability to give the gift will also be needed. A statement from the giver's account will be needed showing the funds available. Any and all gift funds must be documented with canceled checks or wire transfer.

If your credit scores are below 580 FHA requires a minimum down-payment of 10%.

Minimum credit score for FHA loans is 500

January 20, 2010 - FHA announced a set of policy changes to strengthen the FHA. The changes announced are the latest in a series of changes enacted in order to better position the FHA to manage its risk while continuing to support the nation’s housing market recovery.

The FHA has taken the following step:

Update the combination of credit score and down payments for new borrowers. New borrowers will now be required to have a minimum credit score of 580 to qualify for FHA's 3.5% down payment program. New borrowers with less than a 580 credit score will be required to put down at least 10%.

HUD homes for sale $100 down payment.


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Minimum Down Payment Needed

to Buy a Home


Apply Now!

Call 888.958.5382

E-mail Us!


FHA loan

Requires a minimum credit score of 500 to buy a home

FHA minimum

credit score 500


VA loan

Requires a minimum credit score of 500 to buy a home

VA minimum

credit score 500


Fannie Mae

Requires a minimum credit score of 620 to buy a home

Fannie Mae minimum

credit score 620


Freddie Mac

Requires a minimum credit score of 620 to buy a home

Freddie Mac minimum

credit score 620


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888-958-5382


Apply Now!