No and Low Down Payment Mortgages

Your dream home is closer than you think

Put our low down payment loan program options to work for you.

BBVA ClearPoints Credit Card

HOME2

Ideal Borrower: First-time home buyer who wants the lowest down payment possible.

Features Include:

  • Down payment: None
  • Loan-to-Value Ratio (LTV): Up to 100% financing
  • Bank assistance: Up to $3,5001
  • Mortgage insurance: Not required
  • Min. credit score: 620
BBVA ClearPoints Credit Card

HomeReady® Mortgage3

Ideal Borrower: Needs flexible ways to fund the down payment and closing costs, including eligible gift funds.

Features Include:

  • Down payment: As low as 3%
  • Loan-to-Value Ratio (LTV): Up to 97% financing
  • Bank assistance: Up to $2,5001
  • Mortgage insurance: Required
  • Min. credit score: 620
BBVA ClearPoints Credit Card

FHA Loan

Ideal Borrower: First time home buyers or buyers preferring less stringent credit terms.

Features Include:

  • Down payment: As low as 3.5%
  • Loan-to-Value Ratio (LTV): Up to 96.5% financing
  • Bank assistance: Up to $3,5001
  • Mortgage insurance:
    Required
  • Min. credit score: 580
BBVA ClearPoints Credit Card

Veteran Affairs (VA) Loan

Ideal Borrower: Military members, veterans, and eligible surviving spouses.

Features Include:

  • Down payment: None4
  • Loan-to-Value Ratio (LTV): Up to 100% financing
  • Funding fee: Required
  • Bank assistance: Up to $2,5001
  • Min. credit score: 620

Need help choosing? 

Let us find the best mortgage for you.

Details you need to make a smart decision

1Program applies to first lien residential mortgage loans to purchase or refinance a primary residence in AL, AZ, CA, CO, FL, NM, & TX. All Borrowers and / or Properties eligible for the HOME and HomeReady Products are eligible for the assistance. For FHA and VA loans, the property must either be located in a FFIEC low or moderate income census tract, or the income of all applicants on the loan must be less than 80% of the FFIEC Median Family Income. To view census tract and income limit data, visit https://geomap.ffiec.gov/FFIECGeocMap/GeocodeMap1.aspx. Total maximum assistance, including all lender credits, bank paid fees, waived fees, and pricing assistance cannot exceed $3,500 for FHA or HOME and $2,500 for VA or HomeReady. A lender credit of $500 will be applied at closing and underwriting and processing fees will be waived (an $1,100 value) for FHA, HOME and HomeReady. Additional assistance is applied via a price adjustment and varies by product and loan size. For Purchase transactions, lender credits cannot be used to offset fees or charges already being paid by the property seller in accordance with the sales contract.

2 Program applies to first lien residential mortgage loans to purchase or refinance a primary residence in AL, AZ, CA, CO, FL, NM, & TX. All Borrowers and / or Properties eligible for the HOME Product are eligible for the up to $3,500 towards closing cost and other assistance. To qualify for the product, the property must either be located in a low or moderate income census tract, or the income of all applicants on the loan must be less than 80% of the FFIEC Median Family Income. To view census tract and income limit data, visit https://geomap.ffiec.gov/FFIECGeocMap/GeocodeMap1.aspx. Maximum Loan-to-Value is less for loans on condominiums and for certain other transactions. Loan-to-Value ratios greater than 97% require a $500 contribution toward the transaction from the borrower’s own funds. Property insurance is required, including flood insurance where applicable. Maximum loan limits and minimum equity down payment requirements apply.

3 Program applies to first lien residential mortgage loans to purchase or refinance a primary residence in AL, AZ, CA, CO, FL, NM, & TX. All Borrowers and/or Properties eligible for the HomeReady product are eligible for the up to $2,500 towards closing cost and other assistance. See Fannie Mae’s HomeReady website (https://homeready-eligibility.fanniemae.com/homeready/) for income limits.

4Some transactions may require a down payment.

Certain restrictions apply. Talk with a BBVA mortgage expert for details. All loans subject to program eligibility, collateral and underwriting requirements and approvals, including credit approval. HomeReady is a registered trademark of Fannie Mae. BBVA and BBVA Compass are trade names of BBVA USA, a member of the BBVA Group. BBVA USA, Member FDIC and and Equal Housing Lender. NMLS# 402936. Rev. 03/2019 / #277309-B