3% Down First Time Homebuyer Program
Is your savings account standing between you and homeownership? We may be able to help.
We offer 3% down, conventional home financing1 for qualifying borrowers.
According to consumer research, the ability to save enough money for a down payment and closing costs is often the main obstacle that stands between potential first time home buyers and homeownership.
In support of first time home buyers who may lack the funds to make a larger down payment and cover closing costs - but otherwise qualify for a mortgage - we offer 3% down, conventional home financing.1
Here are some key features:
- 3% down payment (97% LTV)
- 30 year fixed rate mortgage loan
- 3% down payment and reserves (if required) may be supplied by gift funds
- 1-unit primary residences eligible (e.g. single family homes, town homes, condos, planned unit developments (PUD))
- Pre-purchase homeownership education required
- Borrower on the loan must not have owned any residential property in the previous 3 years
1. Low down payment financing options may not be the best option for all borrowers. Consult your mortgage consultant to review potential loan scenarios and financing options to determine the home loan that is right for you.
*Not all borrowers will qualify
*Not all borrowers will qualify
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3% Down First Time Homebuyer Program
Is your savings account standing between you and homeownership? We may be able to help.
Learn more
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