Explore a smaller down payment
Certain conventional products offer down payments as low as 3% for eligible borrowers. Fannie Mae’s HomeReady is one example; it has income and other eligibility requirements.
Compare monthly and upfront costs
Ask your lender about mortgage insurance, rate, fees, education requirements, eligible property types, and acceptable sources for down payment funds. A smaller down payment can change your monthly costs.
Build a realistic savings plan
Use the savings planner to include estimated closing costs and a reserve. Compare the lender’s actual numbers before choosing a loan. Ahmad can help align your search and purchase timing with that plan.
Official resources
Reviewed October 9, 2026. Program rules, limits, and availability may change. Confirm current information with the program provider and your lender. This guide is general education; Ahmad provides real estate services, not loan approval.