By Bill Lyons | Updated on January 3, 2024
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    According to a survey by by Genworth Mortgage Insurance, misperceptions about downpayments are deterring what would be homeowners from purchasing their first home. They found that a majority of borrowers still believe that it is a requirement for purchasing a home. Even the many prospective borrowers who know that a 20 percent downpayment is not mandatory still think it would be difficult to pursue purchasing a house with less.
    There are plenty of lower downpayment options available that make homeownership possible for just about everyone these days. Here at Griffin Funding, we walk you through all available loan solutions that fit your unique situation and show you the benefits (and potential drawbacks) of each one. We feel that proactively educating borrowers is our duty as mortgage professionals.
    Here are some options to consider:
    • 1% down on loans less than $424,100 with certain restrictions
    • 3.5% down on FHA loans below the FHA country limits
    • 5% down for conventional loans below $424,100
    • 10% down for high-balance conventional loans below the high balance county loan limit (up to $636,150)
    • 5% down on non-prime jumbo loans up to $3,000,000
    To find our more about today’s downpayment options, give one of our expert loan officers a call at (888) 721-0003, or fill out a contact form on our website!

    Find the best loan for you. Reach out today!

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    Bill Lyons

    Bill Lyons is the Founder, CEO & President of Griffin Funding. Founded in 2013, Griffin Funding is a national boutique mortgage lender focusing on delivering 5-star service to its clients. Mr. Lyons has 22 years of experience in the mortgage business. Lyons is seen as an industry leader and expert in real estate finance. Lyons has been featured in Forbes, Inc., Wall Street Journal, HousingWire, and more. As a member of the Mortgage Bankers Association, Lyons is able to keep up with important changes in the industry to deliver the most value to Griffin's clients. Under Lyons' leadership, Griffin Funding has made the Inc. 5000 fastest-growing companies list five times in its 10 years in business.