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|Minimum down payment
|3% (with PMI) to 20% (without PMI) of home price
|3.5% of home price
|0% of home price
|At least 10%
|Minimum credit score
|Mortgage insurance fees
|None if you decide to put down 20% or more. 0.5% to 1% for anything below
|1.75% of loan amount
|No PMI, but upfront funding fees of 1.25% to 3.3% of loan amount
|None if you decide to put down 20% or more. 0.5% to 1% for anything below.
|Buyers with higher credit scores and higher down payments
|Buyers with lower credit scores. Particularly helpful for first time home buyers or homebuyers who need down payment assistance
|Military service personnel or family members
|Buyers that require loan amounts that exceed the limits for their county. Needs a higher credit score and a low DTI to qualify
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