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Is there a conventional loan with an option for only 5% down?

by dowdy186 from Clara, Mississippi. Dec 17th 2020 Reply


Michele Bledsoe (MicheleBledsoe)
#106 ranked lender in Georgia - 22 contributions

Yes, there is. In some areas, you can actually put as little as 3% down. Happy to answer any questions you have. Michele.Bledsoe@goldwaterbank.com770-362-2724

Dec 17th 2020
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Good afternoon! Yes, I am happy to help with this.

Dec 17th 2020
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DOUG CAPPS (DOUG CAPPS)
#1 ranked lender in Mississippi - 206 contributions

Yes, there is! I'm in MS, so please call me if you need assistance or have any additional questions. Doug Capps, Guaranty Bank. 662-298-0131, doug.capps@gbtonline.com.

Dec 17th 2020
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,205 contributions

If you are looking for a home you will be occupying as your primary residence, Conventional loans will allow as little as 3.00% Down for first time homeowners. If you are looking for a home as a Rental property, you will need at least 20% down, and if its for a vacation (or second home). it would be 10%. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ www.ApplyYes.com 480-889-9000.

Dec 17th 2020
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Dan Paladin (dpaladin)
#1 ranked lender in California - 700 contributions

Short answer yes...reach out to a local mortgage banker and they should be able to help you.

Dec 17th 2020
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,263 contributions

As long as the final loan amount is under the conforming loan limit in your area, yes, all day long. In the jumbo loan market, no. I lend in MN WI IA SD ND. Find me at Joemetzler.com - NMLS 274132

Dec 19th 2020
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