Resources to support affordability
Get more personalized options, solutions and services to help you prioritize affordability in your home search – even as rates fluctuate.
Get StartedWhich low- or no-down payment loan is right for me?
There are more cost-effective routes to homeownership that require a lower (or even no) down payment and often offer better rates than you might find with a standard loan. But what are the differences between them, and how do you know which to choose? Here are five of the most common low and no-down payment loan options at a glance:
Chart values reflect standard examples
* Recommended, but no official limit present
† Area Median Income
‡ In most counties
More solutions for affordability
Credit advice and repair
The average American has tens of thousands of dollars worth of debt. But even small improvements to your overall financial profile first can make a big difference when it comes to qualifying for a home loan. Find resources to successfully create payment plans, refinance student loans and improve your credit score.
Best for homebuyers who...
have been deemed ineligible for a mortgage due to low credit scores.
Down payment assistance
Check the U.S. Department of Housing and Urban Development (HUD)’s available programs in your state. Your local housing authorities can also provide counseling and support on your homebuying journey. For eligible buyers, down payment assistance can come in the form of loans, grants and other supporting programs.
Best for homebuyers who...
have a good credit score, but may need additional funds for their down payment.
Rent-to-own
A rent-to-own agreement allows renters to save toward their down payment in paying rent each month. This can be a great alternative path to homeownership if you want to own a home, but perhaps aren’t ready to do so right away. Some rent-to-own services can even help you find the right home as part of your lease agreement.
Best for homebuyers who...
have found or are ready to move into their ideal home, but need some additional time to save up and improve their financial profile.
Manufactured homes
Unlike a traditional mobile home, modern manufactured homes are built to stand permanently on land that you purchase or rent. Today's prefab houses can offer the comforts of home at a much lower cost per square foot – often without needing to sacrifice space, functionality or finishes.
Best for homebuyers who...
are looking to make a tighter budget go farther than what they can afford with a traditional home.
Your homebuying journey starts here.
Get a personalized quote to see your loan options – instantly.
Get A Quote