Conventional loan requirements for 5% down?

For an owner-occupied single-family dwelling (SFR, Townhome or Condo), the minimum down payment of 5% is available. Credit scores would need to be 680 or above and your total DTI would need to be below 45%. Including the debt on your other property. Let's see if we can help you get into your new property.Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, MO, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300.

Your standard cookie cutter conforming loan (under $647,200 in most areas) starts at just 3% down payment. FHA starts at 3.5% down. Multi-family properties are going to be higher on a conventional loan, but FHA multi-family is still only 3.5% - but you have to live on one side. I lend in MN WI IA ND SD. Find me at JoeMetzler.com - Cambria Mortgage, NMLS 274132