0% down payment and no private mortgage insurance (PMI).
A score of 640+ usually triggers "automatic approval" in their system, meaning less paperwork and a faster closing for you. 3. Conventional 97 or HomeReady®
Low down payment options designed for credit-worthy buyers.
If you’ve served in the military, this is the gold standard.
When you buy with $0 down, you are financing 100% of the home's value. This makes you a "higher risk" to the bank. However, your acts as a safety net. It proves you’re a reliable borrower, which allows lenders to offer you these zero-down programs without hitting you with massive interest rates. The Bottom Line
While these typically require 3% down, buyers with good credit often use programs to cover that 3%.
Don't wait years to save $50,000 while home prices continue to rise. If your credit is ready, your house might be too.
Your high score keeps your PMI payments incredibly low—sometimes half the cost of what someone with average credit would pay. 4. Physician or Professional Loans