What size down payment will be expected if I participate in one of Poli Mortgage Group’s first time home buyer programs?
Our down payment requirements vary by program and credit score. We’ve listed the average down payment requirements below for each program:
- FHA: The FHA down payment required is 3.5% of the purchase price
- VA: Qualifying Veterans can qualify for up to 100% financing
- USDA: Properties that fall into the USDA Rural Housing Program qualify for 100% financing Conventional: Conventional mortgage loan programs require a minimum 5% down payment of the purchase price