Skip to Content

3% Down First-Time Home Buyer Program

Is your savings account standing between you and homeownership?  We may be able to help!

According to Fannie Mae consumer research, the ability to save enough money for a down payment and closing costs is the main obstacle that stands between potential first-time home buyers and homeownership.

In support of first-time home buyers who may lack the funds to make a larger down payment and cover closing costs — but otherwise qualify for a mortgage — we are now offering 3% down, conventional home financing!

Here are some key features:

  • 3% down payment (97% LTV)
  • 30 year fixed rate mortgage loan
  • No income limit
  • 3% down payment and reserves (if required) may be supplied by gift funds
  • No pre-or post-purchase home buyer counseling required
  • 1-unit primary residences eligible (e.g. single family homes, town houses, condos, planned unit developments (PUD))
  • At least 1 borrower on the loan must not have owned any residential property in the previous 3 years


Contact your local mortgage consultant to discuss your home financing options, today!


All first mortgage products are provided by Prosperity Home Mortgage, LLC dba FM Lending Services. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Licensed by the Delaware State Bank Commissioner. Also licensed in District of Columbia, Maryland, North Carolina, Pennsylvania, South Carolina, Virginia, and West Virginia.
NMLS ID #75164 (NMLS Consumer Access at
©2014 Prosperity Home Mortgage, LLC dba FM Lending Services. All Rights Reserved. (12/14)

Share with Facebook Share with LinkedIn Share with Twitter

< Go Back
Back to top