Phone: (240) 670-5090       •       Fax : (443) 725-0531

Serving all of Maryland, Washington D.C. & Virginia
Email :       •       NMLS ID: 143670

12501 Prosperity Drive Suite 310, Silver Spring, MD 20904

Low Down Payment Programs


There are two easy and beneficial loan programs offered by Fannie Mae (Home Ready) and Freddie Mac (Home Possible) that combine low down payment features with below market mortgage terms.  In many instances, the interest rates, mortgage insurance factors and monthly payments are lower than standard conventional and FHA financing with a low down payment.

Program Highlights:

  • 3% minimum down payment on loan amounts up to $424,100. 5% down minimum for loan amounts between $424,001-$636,150 (Home Ready only)
  • Reduced mortgage insurance and options for NO PMI if you qualify.  Contact us directly to see if you qualify and for specific loan scenarios – or Pre-Qualify here.
  • Credit score tolerant for credit scores 680-739 (Lower credit scores don’t have as much an effect on rate as on standard conventional financing)
  • You do NOT need to be a first time home buyer to use either program
  • Maximum income is based on the median household income.  In the DC Metro area, the income limits can go as high as $109,000 and several areas have NO INCOME LIMITS.  To look up the income limit for specific homes, please visit the following sites and enter the subject property address.

Fannie Mae: Home Ready lookup
Freddie Mac: Home Possible Income and Property Eligibility

Whether you are a first time or move up buyer, it’s definitely worthwhile to consider both of these products as alternatives to FHA and standard Conventional financing.