Low or No Down Payment Loans

More mortgage options

Low or no down payment government mortgage loans give you the opportunity to own your own home and start building equity.

FHA Loans

FHA loans are insured by the Federal Housing Administration. They allow homebuyers to finance homes with low down payments and are a good option for first-time homebuyers who may not have a large down payment or bruised credit. First-time homebuyer loans include:

  • Financing a primary residence
  • Low down payment
  • Single-family homes, multifamily housing, condominiums or manufactured homes on permanent structures
  • Streamline refinancing available
  • Renovation loans
  • Bankruptcy older than 24 months
  • Credit scores as low as 600

Apply Online

USDA Loans

A USDA loan is a U.S. Department of Agriculture loan, often referred to as a Rural Housing Loan, offering zero-down payment for those who wish to purchase in an eligible rural area.

  • For primary residences only — single-family residences and approved condominium units
  • Credit scores as low as 620
  • Low private mortgage insurance (PMI) fees (PMI is generally needed when you have a down payment of less than 20%)
  • Cannot own additional real estate

Apply Online

VA Loans

VA loans are a no-down-payment mortgage option available to qualified veterans, service members and select military spouses. They are guaranteed by the U.S. Department of Veterans Affairs.

  • No down payment
  • Finance up to 100 percent of a home’s value
  • 1–4-unit owner-occupied residences and approved condominium units
  • No monthly private mortgage insurance (PMI) usually charged if you don’t have 20% down
  • Funding fee can be financed (funding fee may be waived if you are an exempt veteran as determined by your Certificate of Eligibility)
  • The funding fee is a percentage of your loan amount charged by the VA as a one-time fee that guarantees the loan in case of default
  • Stable, reliable income requirements with enough left over for typical needs such as food and transportation
  • Credit scores as low as 600
  • Streamline refinances available — Interest Rate Reduction Refinance Loan (IRRRL)
  • Maximum loan limits apply

Apply Online

WHEDA Loans

WHEDA loans are offered by the Wisconsin Housing and Economic Development Authority loan. These special 30-year fixed-rate loans with low down payment requirements to those who qualify.

  • Fixed-rate mortgage
  • Low down payment
  • EZ Close second mortgage available to finance some or all your down payment
  • Homebuyer education
  • Single-family primary residence requires only 3% down
  • 2–4-unit primary residence requires only 5% down
  • Available with no- or reduced-rate private mortgage insurance (PMI) fees
  • Income and purchase price limits apply
  • “Special” rates for first-time homebuyers with qualifying income
  • You can own other real estate

Apply Online

Home One®

Home One® is a mortgage program offered through Freddie Mac available for home purchases and refinances with low or no cash out.

  • Fixed-rate mortgage
  • Low down payment (financing up to 97%)
  • Reduced Private Mortgage Insurance (PMI) rates
  • Reduced closing costs
  • Homebuyer education

Apply Online

Get started

Apply Online

Or contact one of our experienced mortgage lenders to set up an appointment today or get started online!

Reference our Buy Your Home Checklist for a list of items to provide to your lender.

Gabrielle Loeffler
Gabrielle J. Loeffler Vice President, Residential Lending Manager Sun Prairie - East 608.467.1780 Email Gabrielle View Gabrielle Loeffler’s MyMortgage Profile Connect with Gabrielle Loeffler on LinkedIn NMLS ID: 524147
Bryan Bazan
Bryan Bazan Vice President, Private Banking Manager Sun Prairie - West 608.467.1849 Email Bryan View Bryan Bazan’s MyMortgage Profile Connect with Bryan Bazan on LinkedIn NMLS ID: 631659
Michelle Hahn
Michelle A. Hahn Assistant Vice President, Residential Lender Sun Prairie - East 608.467.1786 Email Michelle View Michelle Hahn’s MyMortgage Profile NMLS ID: 762819
Andrea Belanger
Andrea Belanger Assistant Vice President, Residential Lender Cottage Grove 608.467.1806 Email Andrea View Andrea Belanger’s MyMortgage Profile Connect with Andrea Belanger on LinkedIn NMLS ID: 713082
Monica Gonzalez
Monica Gonzalez Assistant Vice President, Residential Lender Sun Prairie - North 608.467.1803 Email Monica View Monica Gonzalez’s MyMortgage Profile NMLS ID: 523588
Trevor Stebbins
Trevor Stebbins Assistant Vice President, Residential Lender Cottage Grove 608.467.1831 Email Trevor View Trevor Stebbins’s MyMortgage Profile NMLS ID: 526228
Lisa Barry
Lisa Ann Barry Residential Lender Sun Prairie - West 608.467.1802 Email Lisa View Lisa Barry’s MyMortgage Profile NMLS ID: 2059736
Shannon Krachey
Shannon Krachey Assistant Vice President, Residential Mortgage Processing Supervisor Sun Prairie - East 608.467.1791 Email Shannon NMLS ID: 2247525
Hannah Mahr
Hannah Mahr Residential Lender Assistant Sun Prairie - East 608.467.1823 Email Hannah Connect with Hannah Mahr on LinkedIn NMLS ID: 2247359

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