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3% Down Payment for 1st Time Home Buyers

Are you purchasing a new home? Before you take another step, call us at MortgageDepot today and find out about our 97% financing options.

Did you know that you can purchase a home with as little as 3% down? At MortgageDepot, we specialize in Fannie Mae, Freddic Mac and FHA mortgage programs that enable first time buyers to achieve their goals with as little money down as possible.

Our Fannie Mae Mortgage Program offers:

  • 97% Loan-to-Value (LTV) Financing
  • Available with a FICO credit score as low as 620
  • Available for a primary residence only
  • Available for either a new purchase or a rate and term refinance
  • For purchases, this is only available for first time buyers
  • Available with a maximum loan amount of $417,000

This program is available for the following types of residences:

  • Single Family Residence
  • Condominium
  • PUD (attached or detached)
  • 1-Unit Residence

In addition to our Fannie Mae 97% Financing Program, we can also offer an FHA program. This program is great for buyers interested in buying a multi-family home to use as their primary residence, or for borrowers with a FICO credit score lower than the 620 required by our Fannie Mae program. In fact, our FHA program is available for borrowers with a FICO credit score as low as 580.

Our FHA Mortgage Program offers:

  • 96.5% LTV Financing (3.5% down payment required)
  • Available with a FICO credit score as low as 580
  • Available for a primary residence only
  • Available for either a new purchase or a rate and term refinance
  • For purchases, this is only available for first time buyers
  • Available with a maximum loan amount of $417,000

This program is available for the following types of residences:

  • Single Family Residence
  • Condominium
  • PUD (attached or detached)
  • 1-4 Unit Multi-family Residence

At MortgageDepot, we know everything there is to know about 97% financing. We want to help you achieve your goal of owning a home while enabling you to put as little money down as possible. Before taking another step toward the purchase of your first home, or toward the refinancing of your existing home loan, contact us at MortgageDepot today.

To contact us by phone call (800) 535-0270 or email us by clicking here.