Conventional Loans
Can I get a conventional loan with 3 percent down?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Yes. Through Conventional 97, HomeReady, and Home Possible, qualifying buyers — often first-timers or those under income limits — can put just 3% down on a conventional loan.
You'll carry PMI until you reach 20% equity, then it can be removed. We'll confirm which 3%-down program fits and compare it to FHA's 3.5% option.
Related Conventional Loans Questions
Have a follow-up question?
Talk to a licensed Florida mortgage broker — no cost, no obligation.