Low Down Payment
Low Down Payment Options
Many people believe homeownership is simply out of reach for them, because they don’t have enough for a down payment. However, there are many low down payment options available. Some that even allow for as low as 3% for a down payment. At RWM Home Loans, we want to make homeownership more accessible for you.
Conventional Loan
- As low as 3%-5% down
- Condo, Town Home, or Single Family
- Mortgage insurance – Can be removed
- Loan limits differ by county*
HomeReady & HomePossible
- As low as 3% down
- Flexible down payment source
- Homebuyer education course
- Non-Occupant, Co-Borrower, or Boarder Income to qualify
FHA Loan
- As low as 3.5% down
- Condo, Town Home, or Single Family
- Flexible qualifying requirements
- Loan limits differ by county**
Down Payment Grant Program
- Cover part or all of down payment
- Owner occupied properties
- Homebuyer education course
- Fixed Rate loans
*To learn more about your county’s Conforming loan limits, please visit: Federal Housing Finance Agency
**To learn more about your county’s FHA loan limits, please visit: U.S. Department of Housing and Urban Development
Mortgage Lending Simplified
Download the free RWM Home Loans Fluid Mobile App today and get started on your journey to homeownership.