As Jory mentioned, there is a program called the ACCESS program where a select group of lenders can provide 3% down payment assistance using an FHA loan down to 580.
Is it easy to qualify for? Yes and no....with a score below 620, there are some additional criteria you need to meet, but it can be done. Your max DTI ratio will be 43%.....this is what determines how much you qualify for.
If you want to learn more, click on the web reference....my blog has a lot of good info to help. Call me at (951) 215-6119 to discuss how we might be able to get you pre-approved and discus the additional qualifying criteria you need to meet.
All the best!
Congratulations on your decision to purchase. It is a great time to buy. Please let me know if we can help you find the right place for you.
Kevin McLaughlin, Broker Owner
Berkshire West Realty
The type of loan that you should look into is an FHA loan. Do you have VA benifits available to you?
I would pursue a government loan - In our opinion, these loans would better suit your needs.
Scott and Shelley Weier
Cal State Realty
#0117586 / #01217373
C2 Financial Corporation
NMLS License # 258707
Best of Luck!
I have a Buyer's Agent that she specialized in Downpayment assistance Buyers.
Cheryl Sommerville Broker
951-656-9335. They have FHA down to 580 with 3.5 % down.
We are happy to work with you all the way through and beyond! Click my site for great stuff too!
Keller Williams Realty