Download this handy roadmap of what to expect during the mortgage process and a list of common mortgage terms.

Down Payment Basics

Did you know that a 20% down payment is not required for you to buy a home?

• With a Home Possible loan, you could get a 30-year fixed rate loan with as little as 3% down. There are income restrictions so talk to a loan officer about your options.

• Finance Factors also has solutions that could allow up to 100% financing or more on a purchase! Our unique multi-collateral program is a powerful tool to address no/low down payment scenarios:

  • Use the equity in a parent’s property as the down payment. This allows a parent to help their child without having to take out a loan or use their assets.

  • Use equity in an existing property you own to buy another property.

  • Siblings can combine the equity in multiple properties to purchase a property jointly.

  • Many more uses.

Call our Mortgage Hotline at 808-548-3300 to speak to a loan officer about your home goals.