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  • Minimum Down Payment Requirements When Buying A Home

    Are you wondering how much you may need to save for your new home? It may not be as much as you think!

  • O Down Payment

    The VA Loan for our military personal and the USDA rural housing loan both offer a zero down payment loan program for individuals and/or properties that meet their criteria. Sometimes this can be done with little to no cash out of pocket.

    3% Down Payment

    There are conforming conventional first time home buyer loan programs, like HomeReady from Fannie Mae and Home Possible from Freddie Mac only require a small 3% down payment. You may even be able to fund your down payment with gifts, grants, down payment assistance programs, your 401k, and your employer.

    3.50% Down Payment

    The very popular FHA Loan program allows as little as 3.50% down, and is the most liberal in terms of credit scores, and debt-to-income ratios. You may even be able to fund your down payment with gifts, grants, government assistance, your 401k, and your employer.

    5% Down payment

    This is the standard conforming conventional minimum down payment for your everyday plain vanilla home loan for most people. The minimum can change based on property type (duplex, investment), credit score, and occupancy type.

    Are you surprised?

    Surprised how low you can go? While many believe a 20% down payment is required, you can see this is far from your only option for most people, especially first time home buyers.

    Whether you've saved a little or a lot, reach out today to one of our Minnesota based home loan experts, and we'll determine which loan program works best for you.

    Just click a link below to get started on the journey to your new home.

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  • equal housing lender Minnesota, wisconsin, iowa, north dakota, south dakota

    Cambria Licensed Mortgage Loan Officer serving home owners, home buyers and residential real estate investors. Equal Housing Lender, Cambria Mortgage NMLS #322798. I am a licensed mortgage originator, NMLS #274132, and am licensed to originate mortgage loans in: MN, FL, WI, IA, ND, and SD. Lending services may be provided in certain states by Cambria Mortgage NMLS #322798. This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. The information here may not be up-to-date and may no longer be accurate. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. © 2023 Joe Metzler