Down Payments, Information Center
No Down Payment Home Loans
May 7, 2009 by Mortgage Align · Leave a Comment
There are still programs available with 100% financing (no down payment or down payment assistance). VA Loans are available for veterans with no-money-down. Also the USDA has 100% financing for purchases in rural communities.
FHA Down Payments: Minimum FHA down payments increased to 3.5% on January 1, 2009.
Conventional Loan Down Payments Any loan that is more than 80% of the sales price will involve private mortgage insurance (PMI), which will increase your monthly mortgage payment. Typical down payments are 5%, 10% or 15% of the sales price.
