Contact Your Low-To-No Money Down Mortgage Loan Specialist: (866) 747-2882

How do you want to get started?
Quick application

With Millennial Home Loans quick online loan application, determining if you qualify for a Conventional Low Down Payment Loan and for how much, has never been easier.

Talk to a Conventional Low Down Payment Loan Mortgage Expert

Not ready to apply online? No problem. Answer a few questions, and a Conventional Low Down Payment Loan Mortgage Expert will call you back.

Home » Less Than 5% Down » 3% Down Conventional Loan

Conventional Low Down Payment Loan.

Down Payment As Low 3%

Use the Fannie Mae HomeReady, Freddie Mac HomePossible, or HomeOne Loan to Achieve Your Dream of Homeownership

3% Down Conventional Purchase Loan Program Benefits

  • Borrowers can purchase a home with down payments as little as 3% down
  • Down payments can come from flexible sources including a family member gift or a loan against a 401k retirement account
  • Income based programs offers reduced Mortgage Insurance Rates
  • Borrower paid Mortgage Insurance permitted
  • Up to 3% Seller paid closing cost assist and Down Payment Assistance programs allowed
  • Loan amount up to conforming loan limits of $647,200
  • Less restrictive appraisal report requirements than a comparable Government Loan appraisal report
  • Safe, secure 15 and 30 Year fixed rate mortgage

Which Program is Best For You?

Freddie Mac Home Possible Fannie Mae Home ReadyFreddie Mac Home One
Maximum Loan-To- Value97%97%97%
Down Payment3%3%3%
Home Buyer EducationRequired. MI provided acceptableRequired. From FrameworkIf all borrowers are first time home buyers required from CreditSmart
Income Restrictions (Borrowers Only)Yes. Click HereYes. Click HereNo
First Time HomebuyerNoNoOne borrower must be a first- time homeowner
Minimum Credit Score620620620
Allowable Property TypeOne Unit OnlyOne to Four UnitOne Unit Only
Ownership of Other Properties AllowedNoYesNo
Gift AllowedYesYes, for one unit onlyYes
Co-signers AllowedNoYes, with 5% DownNo
Reduced Mortgage InsuranceYesYesNo

Today's Conventional Low Down Payment Loan Interest Rates

Conventional Low Down Payment Loan interest rates change on a daily basis. 


To receive a quick quote on current interest rates 

to receive an update interest rate quote.

Scroll to top