There’s pride in homeownership

You take pride in your community, and that’s a powerful thing. There are affordable options to help you buy a home right here—in the place you love most.

Homeownership is possible with:

Down payments
as low as 3%

See how you can get a home loan, even with limited savings.

There are home loan options that offer down payments as low as 3%.* That means you may have the opportunity to own a home without coming up with a large sum of money up-front. You may even be eligible for down payment assistance programs that offer funding to those who qualify.

Visit your local lender or housing counselor to learn how you can own a piece of the place you love.

*Some credit-related restrictions and eligibility conditions may apply.

education & counseling

Learn what it takes to purchase and own a home.

Through homeownership education programs and individual one-on-one counseling, you can become a homeowner and learn how to prepare for the ups and downs of owning a home.

Remember, you are not in this alone—buying a home is a major investment and there is help available to you every step of the way.

More affordable
monthly payments

Take advantage of the opportunity to cancel your mortgage insurance and save on what you owe month-to-month.

When you put less than 20% down, you have to purchase mortgage insurance, which protects the lender in case you can’t pay your loan for any reason. Mortgage insurance is typically paid along with your monthly mortgage payment, which adds to your bill.

But here’s the good news: You may be able to cancel your mortgage insurance* once you’ve reached 20% equity in your home. Doing this means extra savings for you down the road.

Talk to your local lender to learn more about cancellable mortgage insurance.

*Restrictions apply

Explore mortgage products designed for homebuyers like you.


Low Down Payment Mortgages

With a down payment as low as 3%,* cancellable mortgage insurance,** and flexible sources of funds for your down payment and closing costs, there are accessible and affordable mortgage options for first-time and repeat homebuyers just like you.

These home loan options may be a good opportunity for you if you:

  • Have limited cash for a down payment
  • Have a credit score of at least 620
  • Have additional boarder or rental income

Visit your local lender or housing counselor to learn more about low down payment mortgage options.

*Some credit-related restrictions and eligibility conditions may apply
**Restrictions apply

Update Older Homes

If affordable quality homes are hard to come by in your community, there are home loans available that bring buying and renovating a fixer-upper within your reach. With renovation funds bundled directly into your mortgage, it’s a simple and flexible way for you to renovate a home at the time of purchase. Plus, interest rates are typically lower than a home equity line of credit, personal loan or credit cards. You can even access renovation funds up-front before the project starts, subject to lender approval.

There are also home loans that can help fund energy- or water-efficiency improvements like updating older, inefficient HVAC and water systems. These improvements can help reduce utility costs, saving you even more down the road. You can also use funds to help better prepare your home for environmental disasters like floods, storms, and earthquakes, or to repair damage from these types of disasters if they occur.

Visit your local lender or housing counselor to learn more.

Mortgages for Manufactured Homes

Manufactured homes are a great option if affordable homes are hard to find. Fannie Mae offers several financing options for manufactured housing (MH) that may suit your needs and fit your budget, some with down payments as low as 3%* and lower mortgage insurance rates.**

Visit your local lender to learn more about mortgages for Manufactured Homes.

*Some credit-related restrictions and eligibility conditions may apply
**Restrictions apply

Government-Guaranteed Loans

You may have access to government loans (like USDA Section 502 loans and HUD Section 184 loans) to help you achieve your dreams.

USDA 502 loans may be a good option if you do not qualify for conventional home financing, and they require $0 down.

HUD 184 loans are another Government-guaranteed loan option designed specifically for American Indian and Alaska Native families, Alaska villages, tribes or tribally designated housing entities. This type of loan allows borrowers to get into a home with a low down payment and flexible underwriting, and can be used both on and off native lands.

Anthony Allen

Meet Anthony Allen

Anthony and his young family were ready to leave their tiny rental apartment for a home they could call their own in Winchester, Kentucky. They thought they needed to put 20% down and potentially have to make high monthly payments. That’s when their lender recommended HFA Preferred™, a mortgage product with as little as 3% down, and available down payment assistance through their local housing finance agency. Now the Allens were able to buy a home and begin building a future in the place they take pride in.

Now get yourself ready to own with these important steps.

Steps to get ready to own:

01 Find out what you can afford.

Think about the price of the home as well as other costs you can expect, like insurance and maintenance.

02 Check your credit report.

You don’t need perfect credit to buy a home. Knowing your credit score can help you figure out what type of home loan you might qualify for.

03 Save for a down payment.

There are no hard and fast rules about how much to put down—some loans require as little as 3%. Visit a lender or housing counselor to talk about your options, including assistance programs. Learn about assistance programs available in your area from

04 Talk to a local lender and get prequalified.

Pre-qualification is a great step to find out how much you may be able to borrow and what loan options may work for you.

Ana Ponce

Meet Ana Ponce

While Ana and her husband loved the Brownsville, Texas area where they had raised their family, they wanted to move out of their aging trailer and spend their retirement years in a family home. But with modest income and weak credit, they quickly discovered how difficult it was to qualify for a home loan. Then their pastor suggested the local community development corporation, which offered the right home loan options and a housing counseling program that helped the Ponces repair their finances, learn how to get a mortgage, and experience the pride of homeownership.

Your journey toward homeownership is just beginning. Find a local housing counselor through the NeighborWorks America Directory, to see where you stand and create a plan to own a piece of the place you call home.