Low Downpayment Options
Options with Less Than 5% Down!
Many active homebuyers require a mortgage with a low downpayment. United Northern Mortgage Bankers, Ltd. is a Direct Lender offering a full portfolio of home loan solutions to best match your needs. Our trained and experienced mortgage loan originators are committed to work with you every step of the way to find a loan option with a downpayment in your comfort zone.
Here are some of the low downpayment options we offer
United Northern Mortgage Bankers, Ltd. offers FHA home loan programs that can provide financing with down payments as low as 3.5%. This popular program is also available for qualified borrowers that may have less than perfect credit histories.
If qualified, you can make a downpayment as low as 3% on conventional home loans with private mortgage insurance (PMI). Generally, these loans have stricter credit requirements than FHA programs. PMI may be cancelled when the mortgage balance is below 80% of the home’s value if you request its cancellation.
3% - 5%
Home Possible® mortgages offer low down payments for homebuyers in high-cost or underserved communities. This program is available for low to moderate income buyers, however those with incomes higher than the median area income can also qualify, ask your United Northern Mortgage Bankers, Ltd. licensed mortgage loan originator if you qualify.
United Northern Mortgage Bankers, Ltd. offers No downpayment loan programs for qualified veterans, active-duty service members members of the National Guard and Reserves. United Northern Mortgage Bankers, Ltd. originates and underwrites these loans. The VA guarantees a portion of the loan, which helps us provide more favorable terms.
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