Low Down Payment Loans
You May Qualify for a Low or No Down Payment Loan
Allied offers low to no down payment options for qualified borrowers. From FHA and USDA to Conventional loans such as HomeReady® from Fannie Mae and Home Possible® from Freddie Mac, to options for Veterans, many borrowers can benefit from Allied flexible loan options.
Criteria for Down Payment Assistance
Down Payment Assistance programs consider several things to determine if you qualify. The criteria vary depending on the state or municipality, but they review income, credit, household size, reserves, and whether you are a first time or experienced homeowner.
Most assistance programs, especially for first-time buyers, require the completion of homebuyer education programs.
Some programs are designed for individuals who provide necessary services to the community. They include teachers, firefighters, law enforcement personnel, health care workers, and veterans.
To qualify for down payment assistance, the home must be occupied as the primary residence. Single-family homes, townhomes, condos, and even some multifamily properties are allowed if the buyer is also an owner-occupant.
Find out what programs you may qualify for using our free, easy-to-use search tool.
Benefits
- Low to No Down Payment for certain loans and qualified borrowers
- Talk to us about state and local downpayment grants that may be available.
- Down Payment gifts from family may be allowed
- Great for first-time homebuyers
Contact Allied today and learn about these benefits and get answers to all your mortgage questions by speaking with an Allied loan officer.
