What is the lowest amount I have to use for a down payment?
A 20% down payment was the standard years ago, however Meyer Mortgage will allow the buyer to put as little as 5% down on a conventional loan. With an FHA government-insured loan, as little as 3% is required for a down payment. With a VA guaranteed loan, no down payment is required. Based on certain criteria, we now have 97% and 100% conventional loans available for those who qualify.
