3% Down Mortgage Loans

3%-3.5% Down Payment – Conventional vs FHA

If you’ve ever wondered what the difference is between a 3% down conventional loan and a 3.5% FHA loan, please see the at-a-glance chart below. These are the main differences between the 2 loans. For more information, please give us a call 949-212-2128, anytime!

Conventional FinancingFHA Financing
At least 1 borrower must be first time home buyer (or haven’t owned in past 3 years)YesNo
Minimum Down Payment 3%3.5%
Max Loan Amount by County (Non Jumbo)$715,000-
Primary Residence
Max Loan-to-Value (LTV)97%96.5%
Minimum FICO score620580
Up Front MI PaymentNoYes
Monthly MI PaymentYesYes

Interested in purchasing a home?
If you’d like to see if you qualify for either of our low down payment loans,
call 949-254-4721 or Pre-Qualify today!