The down payment should not be an obstacle to buying your home.
FHA Low Down Payment Loan FHA Loans feature a down payment as little as 3.5%, low interest rates, easy credit qualifications, and a higher debt-to-income ratio for the borrower. Gift funds are also allowed for the down payment and/or closing costs.
Conventional Low Down Payment Loan Conventional loans can offer down payments as low as 3% for low-income families. Gift funds are allowed for down payment, closing costs, and interest rates are often very competitive.
Down Payment Assistance (DPA) Programs Depending on where you’ll be purchasing your property, we can offer you additional state-specific grant programs that can often be used together with FHA, VA, USDA, or Conventional loans to help cover down payments and/or closing costs. Each program has different qualifications and restrictions.
VA No Down Payment Loan VA Loans feature 100% financing, no private mortgage insurance requirement, low interest rates, and easier qualifying guidelines. VA Home Loans are only available for veterans, active-duty personnel, reservists and national guard members.
Rural USDA No Money Down Loan The USDA Loan offers outstanding benefits for borrowers who would like to purchase a home in eligible rural areas defined by the United States Department of Agriculture. Offering 100% financing, it’s great for first-time homebuyers, and low-to-moderate income households.
Ready to start your path to homeownership with little or no down payment? Contact a NOVA Loan Officer to get started today.
The Program information shown is for informational/educational purposes only and does not represent a commitment to lend or extend credit. Other terms and conditions may apply. Contact your Loan Officer for more details.