Conventional Loans

Great for 1st Time Home Buyers

The HomeReady and Home Possible programs that allow the 3% downpayment is intended for low-income and moderate-income home buyers. At QMG we work to offer a flexible program by:

  • Allowing financing for the purchase of a second home
  • No restrictions for first-time buyers
  • Buyers can have a cosign on their loan. 
  • Available for those with lower FICO scores
  • Low down payments that can include gifts received from others 


As a mortgage lender, we outline the specifics, assess your financial situation, and determine eligibility. We’re prepared to answer any questions you may have about 97% financing and placing 3% down for your next purchase. 

A borrowers personalized service

First-time home buyers can get a conventional mortgage with a low down payment and competitive rate. However, the down payment requirement can vary based on your situation and the type of loan or property you’re getting:

  • If you’re not a first-time home buyer or making no more than 80% of the median income in your area, the down payment requirement is 5%.
  • If the house you’re buying is not a single-family home (i.e., it has more than one unit), you may need to put down 15%.

 Explore our loan offerings and see what Quintessential Mortgage Group can do for you. Our mortgage loan originators are committed to helping you obtain the best conventional loan terms. We can do this because we are the experts in getting you the best loan at the best rates.


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