For a conventional mortgage, you have several down payment options. Mortgage loans are available with a down payment as low as 3% of the purchase price, in addition to the closing costs. Members will have closing cost expenses including the costs to originate the loan, the first year of homeowners insurance, prorated property taxes, prepaid interest, and initial escrow funding. The costs will vary depending on the property value and be based on the actual costs associated with your home purchase.

Members can use gift funds from a qualified donor. Examples of a qualified gift donor include:
• Fiance
• Domestic partner
• Immediate relative by blood
• Marriage
• Adoption
• Guardianship