offer two options for homebuyers with good credit, but minimal
funds for the down payment. These programs are ideal for first
program allows a lesser down payment for customers interested
in buying a home, but do not have the standard 5% downpayment.
Homebuyers may use their own savings, a gift from a relative,
a loan or a grant for their downpayment contribution.
should consider the 3% down option if:
have good credit, but only minimal funds for the downpayment.
have 3 , 10% to put down, but it is a gift from a relative,
a loan or some other alternative source not usually allowed
for the downpayment.
Down Payment Required
program does not require you to put any downpayment. However,
you are required to contribute 3% of your funds towards the transactions,
i.e. closing costs, prepaid interest or a small down payment.
should consider this program if:
have good credit, but no funds for the downpayment.
would like to use a gift from a relative, a secured loan,
an unsecured loan or a grant for the closing costs and prepaid