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Buying a Home With a Low Down Payment

There are many ways home — let's find yours

We're helping more people put their first or next home within reach, even without a large down payment or traditional credit.

Down payments as low as 3%

With Wells Fargo, you can get a conventional fixed-rate mortgage with a down payment as low as 3%. There are no area median income requirements and you can use gift funds and down payment assistance programs.

  • Show your credit history through rent, tuition, and utility payments.
  • Qualify with income from rentals or from someone who lives with you but isn't a borrower.
  • With a low down payment, mortgage insurance is required and increases loan cost and monthly payment.

 Here to help 

Reach out to a home mortgage consultant today to discuss loan amount, loan type, and property to ensure eligibility.

Other low down payment options

FHA Loans

Federal Housing Administration (FHA) loans provide fixed-rate and adjustable-rate financing with down payment options as low as 3.5%.

  • May allow you to use a gift or grant for all or a portion of down payment and closing costs.
  • Require less cash upfront, but you typically have to pay FHA mortgage insurance premiums.
  • Let you qualify with a co-applicant, even if the person doesn't live in the home.
  • You can typically only have one FHA mortgage at a time.


Ask a home mortgage consultant to help you compare the monthly and long-term costs of all loans. Mortgage insurance requirements may cause you to pay more over the life of the loan.

VA Loans

Department of Veterans Affairs (VA) loans provide fixed-rate and adjustable-rate financing for veterans and other borrowers who meet the eligibility requirements of the VA program. Please see a home mortgage consultant for details.

  • Offer low- and no-down payment options, and do not require monthly mortgage insurance.
  • Allow closing costs to come from a gift or grant.
  • Require a one-time VA funding fee that can be financed into your loan or paid in cash at closing.
  • You can get VA financing for your primary residence only.


You may be able to finance up to 100% for loans up to $417,000 in most areas. Higher loan amounts may be available in certain areas.

Easy-to-OwnSM Guaranteed Rural Housing Program

The Guaranteed Rural Housing Program, provided by the U.S. Department of Agriculture (USDA), helps low-to-moderate income buyers in rural areas become homeowners.

  • Provides financing of up to 100% with no required down payment.
  • Offers 30-year fixed-rate terms, helping to keep payments predictable over the life of the loan.
  • Lets you finance closing costs, legal fees, and other prepaid fees.
  • You'll pay a one-time guarantee fee and an annual fee to the USDA's Rural Development program.


The guarantee and annual fees, collected as part of your monthly mortgage payment, will increase the cost of the loan and monthly payments.

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More homebuying resources
Conventional conforming mortgage
A mortgage that is not obtained under a government program (FHA or VA) and satisfies the underwriting guidelines and loan limits set by Fannie Mae or Freddie Mac.
FHA mortgage insurance
Insurance provided by the FHA that protects approved lenders against loss if a borrower defaults on an FHA loan. The cost is typically paid by the borrower as upfront and monthly premiums. Amount and terms of insurance paid vary.
VA funding fee
You are typically required to pay a one-time funding fee on VA loans. The amount of the funding fee depends on the type of service, prior use of VA eligibility, and type of loan transaction.