Need money to buy a home?  Maybe not as much as you think.

Now that the market has corrected itself, lenders are eager to lend. The government encourages it by allowing for new rules and tax credits.  As long as you can document the information on your application, you may be able to purchase a home with very little down.

Conforming 3% Down

This is the lowest down payment option currently available.  It is a good alternative to FHA for first time home buyers with good credit.  A high credit score, will provide lower mortgage insurance and lower rates.

  • First time home buyers
  • Lower than FHA
  • Up to 97% financing
  • Loan amount up to $417,000/ high of $424,100
  • Owner occupied
  • Single family home or planned unit development (no condos in FL)
  • Gifts, grants, community seconds are allowed
  • Credit score of 620+, higher scores will earn better rates

    Fannie Mae HomeReady

Conforming HomeReady 3% Down Loan   

Designed for creditworthy, low- to moderate-income borrower; the Fannie Mae 3% down HomeReady mortgage is helping answer community needs.  It is offered in designated low-income, minority, and disaster-impacted areas.

  • Do not need to be a first time home buyer
  • Geographic and income limits apply
  • Owner occupied, 1-unit properties
  • Loan amount up to $417,000 / high of $424,100
  • Gifts, grants, community seconds allowed
  • Home buyer education required
  • Non-occupant co-buyers allowed with 5% down
  • Lower mortgage insurance and better rates than traditional loans

FHA 3.5% Down Loan

An oldie and a goody; FHA offers as little as 3.5% down payment. It may be easier to qualify for as well, as it allows for higher debt to income ratios.

  • Do not to be a first time home buyer
  • Owner occupied
  • Loan amount up to $345,000
  • More lenient guidelines / easier approval
  • Up to 6% seller contributions allowed
  • Up front mortgage insurance included in loan
  • Monthly mortgage insurance included in payment
  • Mortgage insurance may not be cancelled


Yes, jumbo.  Lower than market down payments are available on jumbo loans.  Where many lenders will require 20% down with a very high credit score, we can do better.  Call for details.


* Programs and guidelines subject to change.  Subject to qualification.  Based on current lender guidelines in Florida.  This is not a commitment to lend.