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 an 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 » 5% Down Conventional Loan

Conventional Low Down Payment Loans.

Down Payments As Low As 5%!

No Maximum Borrower Income Restriction, No First-Time Homebuyer Requirements, Can Own Multiple Properties.

5% Down Conventional Purchase Loan Program Benefits

  • Borrowers can purchase a home with down payments as little as 5% down
  • On a one-unit property 100% of the down payment can come from a family member gift
  • No income or geographic restrictions as required with the 3% down Conventional Loan
  • Borrower paid Mortgage Insurance permitted
  • Up to 6% seller paid closing cost assistance and Down Payment Assistance programs allowed
  • Loan amount up to conforming loan limits of $647,200 or higher if in a high-balance area. Click here for more information
  • Less restrictive appraisal report requirements than a comparable Government Loan appraisal report
  • Available in both fixed and adjustable rate mortgages

Comparing a 5% down Conventional Loan Vs. a 3.50% FHA Loan

  • Neither program has maximum income restrictions income, limitation on whether the borrower is a first-time homebuyer, and requirements for taking homeownership education classes
  • Both programs allow for a family member gift for the down payment and closing costs
  • The mortgage insurance on a Conventional Loan automatically ends once the loan has been paid down to 78% of the original purchase price. FHA monthly mortgage insurance lasts for the life of the loan
  • The FHA Loan program charges a financed upfront fee of 1.75% of the loan amount, while Conventional Loan program has no financed upfront fee
  • FHA monthly mortgage insurance costs are the same regardless of the credit score. Conventional monthly mortgage insurance costs vary based on the down payment amount and borrowers credit scores. Borrowers with lower and average credit scores usually benefit by using an FHA Loan over a Conventional Loan
  • Interest rates on an FHA Loan are usually lower than a Conventional Loan
  • The FHA Loan allows 6% seller closing cost help while the Conventional Loan allows 3% and 6% seller closing cots help based on a minimum 5% and 10% down payment; respectively
  • FHA appraisal reports will review the safety and livability of the property, while Conventional appraisal reports establish property value with much less emphasis to the condition of the house

Today's Conventional Low Down Payment Loan Interest Rates

Conventional 5% Down Conventional 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