Low Down Payment Options

Wells Fargo Home Mortgage provides a variety of programs that allow for low-and-no-down payments, and other features designed to help more homebuyers achieve homeownership.

Low 3% down payment option

With Wells Fargo, your buyers can apply for a conventional fixed-rate mortgage with a down payment as low as 3% that may also be combined with gift funds and down payment assistance programs.

  • Qualify with income from rentals or from someone who lives in the home but isn't a borrower.
  • With a low down payment, mortgage insurance will be required, which increases the cost of the loan and will increase your monthly payment. We'll explain the options available, so you can choose what works for you.
  • Flexible credit standards may help homebuyers with a limited credit history or less-than-perfect credit score.

 Here to help 

Be sure your buyers talk to us to discuss loan amount, loan type, property type, income, first-time homebuyer, and homebuyer education to ensure eligibility.

FHA loans

Federal Housing Administration (FHA) loans provide fixed-rate and adjustable-rate financing with down payment options as low as 3.5%.

  • May allow your buyers to use a gift or grant for all or a portion of down payment and closing costs.
  • Require less cash upfront, but buyers typically have to pay FHA mortgage insurance premiums, which may cause them to pay more over the life of the loan.
  • Let buyers qualify with a co-applicant, even if the person doesn't live in the home.
  • Buyers can typically only have one FHA mortgage at a time.
FHA loans have the benefit of a low down payment, but your buyers will want to consider all costs involved, including up-front and long-term mortgage insurance and all fees. Ask your home mortgage consultant to help your buyers compare the overall costs of all their home financing options.


Remind your borrowers to ask us for help in comparing the monthly and long-term costs of all loans.

VA loans

Department of Veterans Affairs (VA) loans provide fixed-rate and adjustable-rate financing for veterans and other borrowers who meet the eligibility requirements of the VA program. Your buyers should talk to us for eligibility details.

  • Offer low- and no-down payment options for qualified borrowers, and do not require monthly mortgage insurance.
  • Allow closing costs to come from a gift or grant.
  • Require a one-time VA funding fee that can be financed or paid in cash at closing.
  • Your buyers can get VA financing for a primary residence only. 


Financing up to 100% may be available for qualified borrowers.

FHA mortgage insurance 

Insurance provided by the FHA that protects approved lenders against loss if a borrower defaults on an FHA loan. The cost is typically paid by the borrower as upfront and monthly premiums. Amount and terms of insurance paid vary.

VA funding fee 

You are typically required to pay a one-time funding fee on VA loans. The amount of the funding fee depends on the type of service, prior use of VA eligibility, and type of loan transaction.