3% and 5% Down Conventional
One of the most popular mortgage products that competes with FHA's famous 3.5% down is HomeReady, which requires even less down in many cases. HomeReady rewards your stellar FICO score with subsidized private mortgage insurance (PMI - click to learn more). Built for today's homebuyers, it has numerous other flexibilities that make it ideal for families with up-and-coming professionals looking to purchase their first home. An online course will also help you answer questions that you didn't know you had and prepare your family for sustaineable long-term homeownership. This program is also available for condos, which is often where young folks start off in East Bay cities like Oakland, San Leandro, and El Cerrito.
Home Possible is yet another program that occupies this same space, with its own advantages and disadvantages. Schedule a consultation today in order to drill down on which of these three options - FHA, HomeReady, or Home Possible, is the most appropriate for your situation and goals.