No Money
Down
We
offer two options for homebuyers with good credit, but minimal
funds for the down payment. These programs are ideal for first
time homebuyers!
3%
down
This
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.
You
should consider the 3% down option if:
- You
have good credit, but only minimal funds for the downpayment.
- You
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.
No
Down Payment Required
This
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.
You
should consider this program if:
- You
have good credit, but no funds for the downpayment.
- You
would like to use a gift from a relative, a secured loan,
an unsecured loan or a grant for the closing costs and prepaid
items.
