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Unique Loans

Low Down Payment Loans

 

If your needs don't fit within the framework of more traditional loans, we have some other options for you.

 

Call a loan representative at 866-226-5225 to discuss alternative loan programs such as a Low Down Payment Loan.

 

For Rates, Assumptions and full disclosures visit our Daily Rate Page.

 

30 Year Fixed Rate Low Down Payment Loan

Best Choice If:

  • You plan on staying in the home long term.
  • You want your monthly payments to remain fixed over the life of the loan.
  • You want your monthly payments to be lower than they would be on a shorter term mortgage for the same amount.
  • You think interest rates could rise in the next few years and want to maintain the current interest rate over the life of the loan.
Advantages:

  • Opportunity to enroll in an educational course to prepare for homeownership (may be required of some loans).
  • Not required to be a 1st time homebuyer.
  • As low as 3% down payment.
  • May use a community second mortgage for down payment and closing costs.
  • Down payment can be a form of a gift.
  • Reduced mortgage insurance.
  • Mortgage insurance coverage is allowed to be cancelled (restrictions may apply).
Disadvantages:

  • You will pay more interest over the life of the loan than you would on a shorter term mortgage for the same amount.
  • You will build equity more slowly than you would with a shorter term mortgage for the same amount.

Mortgage Rates

The Loan Consultant feature determines the products and rates that match your needs.

Ready to Start?

To apply for your easy online loan, all you have to do is answer a few simple questions about yourself, your property and your income, debts and assets.

Apply