Conventional Home Loans With as Little as 3% Down

Put down as little as 3%, about $9,000 on a $300,000 home, with HomeReady or Home Possible.

Both programs are for primary homes and use household income limits.

We’ll show you which program fits your income and your county.

With less than 20% down, you pay private mortgage insurance (PMI).

You can ask to cancel it at 80% loan-to-value, and it ends automatically at 78% when you stay current on payments.

We’ll show you the full payment with PMI before you commit.

Single-unit second homes start at 10% down and investment homes at 15% down.

Lenders add their own rules for reserves and rental income.

We’ll check your scenario against lenders who finance second homes and investment property.

High-balance conventional loans reach $1,249,125 in high-cost counties.

Above your county limit, a jumbo loan is the next step.

We’ll check your county limit and show you both options.

HomeStyle and CHOICERenovation finance the purchase and the repairs in one loan.

Repairs can include structural work, a pool and foundation repairs.

We’ll help you match your project to the right renovation loan.

A construction-to-permanent loan closes once and locks your rate for the permanent loan.

You make interest-only payments while you build and do not re-qualify when construction ends.

We’ll walk you through the draw schedule for your build.

Fannie Mae’s automated underwriting no longer sets a minimum credit score on loan files created on or after November 16, 2025.

Each lender adds its own minimum, and many still require 620.

We’ll check your score and find a lender that fits your file.

HomeReady and Home Possible start at 3% down. A standard primary home starts at 5% down.

Second homes start at 10% down and investment homes at 15% down.

We’ll show you the down payment for each option on your price.

Automated approval can allow a total debt-to-income ratio up to 50% when the rest of your file is strong.

We’ll run your numbers so you know your budget before you shop.

W-2 earners need recent pay stubs and two years of W-2s.

Self-employed borrowers should plan on two years of tax returns.

Income that does not fit these documents can still qualify through our bank statement program.

Eligible properties include single-family homes, townhomes, PUDs, warrantable condos and 2 to 4 unit homes.

Occupancy sets your down payment, and HomeReady and Home Possible are for primary homes.

We’ll check your property against the program before you make an offer.

The 2026 baseline limit is $832,750 for a one-unit home and reaches $1,249,125 in the highest-cost counties.

We’ll check your county’s limit and tell you if high-balance applies.