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If you meet eligibility requirements, it’s possible to get a low- or no-down payment mortgage, which can put you on an easier path to homeownership. Bankrate examined several mortgage lenders to uncover the best for these types of loans, based on measures including low-down payment programs, lower fees and other opportunities to save. Here is our guide to the best low- and no-down payment mortgage lenders in 2022.
To determine the best low- and no-down payment mortgage lenders, Bankrate evaluated lenders based on several criteria, including pricing, accessibility, availability of low-down payment loan programs and borrower experience.
Purchase and refinance; conventional, jumbo, FHA, VA, USDA, home equity loan, construction and renovation loans
620 for conventional loans; 700 for jumbo loans; 580 for FHA loans
Available in all 50 states
Flexible down payment and closing cost assistance programs, including Flagstar Gift Program (offers up to $5,000 to first-time homebuyers) and Homeownership Opportunities Program (offers up to $8,000 to low-income first-time homebuyers)
Lender fees not disclosed upfront online
Home equity loans only offered in some states
Flagstar Bank offers several programs to help homeowners with the down payment and closing costs.
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