Is it possible to get a conventional loan with 10% down? I heard it was difficult to do these days. What is the likelihood and the requirements?

Asked by ryniciaw, Los Angeles, CA Thu Sep 26, 2013

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Robert Chome…, , San Diego, CA
Thu Sep 26, 2013
It is not that difficult to get a conventional loan with 10% down these days. You need to meet a certain debt-to-income ratio, credit can be as low as 620. You generally need to have a 2 year history of income. Any more specific questions? Don't hesitate to contact me.
0 votes
Very Doable!
Flag Thu Sep 26, 2013
Jamie Tian, Agent, Los Angeles, CA
Thu Sep 26, 2013
It is definitely possible to get a conventional loan with 10% down. It depends on your income and credit.

I have had quite a few clients able to get a conventional loan recently with 10% or even a little less. I would be happy to recommend to you the lenders that were able to help them do this.

Feel free to contact me directly at (310) 717-1321 or


Jamie Tian
Rodeo Realty
(310) 717-1321
DRE #01920120
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1 vote
Brian Nguyen, Mortgage Broker Or Lender, Mission Viejo, CA
Wed Feb 19, 2014
A loan like this is definitely possible! I am a lender based out of Southern California and I have done plenty of loans like this throughout Los Angeles. I would be more than willing to speak with you to help you get the loan that you need so feel free to give me a call or email! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887
0 votes
Celine F, , Louisiana
Mon Sep 30, 2013
If the lender access your credit risk and thinks that you are a good borrower, you could have lower down payment, lower interest rate, and perhaps a bigger loan to buy more house.

Check this place to get a FREE credit report and learn ways to build the best credit you can have.


Good Luck!
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carlos parra…, Other Pro, Monrovia, CA
Mon Sep 30, 2013
talk to the bank or other lending institution
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Brad Korb, Agent, Burbank, CA
Sat Sep 28, 2013
Yes ,it can be done .The lenders are just more careful about how they do loans today .Talk to a local agent ,they should be able to get you in touch with a top loan agent . Good Luck !
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Claudia Mull…, Mortgage Broker Or Lender, Fremont, CA
Fri Sep 27, 2013
10% loans are available up to $625k.
You can also do an 80/10/10 (10% down, 10% second 80% first) combined up to $750k for a purchase price of $833k.
Credit scores of 720 are required for the 80/10/10.
Debt to income on the 80/10/10 is 37/45 with no exceptions.
The second requires interest only for the first 10 years.
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Dorene Slavi…, Agent, Torrance, CA
Fri Sep 27, 2013
Yes I have a couple of clients going conventional with 10% down .
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Erik Bottema, Agent, La Canada, CA
Fri Sep 27, 2013
Not too hard with decent credit history. Sellers will consider your conventional offers as better than FHA. And no 30 year PMI :-) I have a great lender who can find you the best rate and lender credit if needed. Contact me.

I also offer a sweet commission rebate for buyers.

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Diane McDona…, Agent, Los Angeles, CA
Thu Sep 26, 2013
Also because there are usually multiple offers on properties and lots of all cash and 20%+ down buyers who will be your competition, be prepared to share the same information you gave your own lender with a lender the listing agent knows and trusts. You're free to use whatever lender you want, but it's very helpful and often requested to do that second (or third or fourth or....) preapproval.

Diane McDonald
The Funky Bungalow
Keller Williams Realty
Over 20 Years of Sales and Service
0 votes
Alexander Gr…, Agent, San Jose, CA
Thu Sep 26, 2013
Yes. I can certainly help you out. We have a exclusive 80/10 product with no mortgage insurance.

Alex Greer
Loan Officer
NMLS #1056079

0 votes
Gregorio Den…, , San Diego, CA
Thu Sep 26, 2013
Getting a 10% down conventional loan is not hard at all. In fact, the qualifications are much different than getting one with 20% down. In Los Angeles, you should be able to get conforming financing up to $625,500 with 10% down payment. It's only when you get above $417,000 that a few more requirements come into play for 90% financing, but it's still fairly straight forward.

Please contact me for more details.
0 votes
Clint Lohr, Agent, Glendale, CA
Thu Sep 26, 2013
What price range would you be interested in? I can have a lender I work with go over all your options involving your credit, your income, and whatever you have as a down payment. Please call me at 818-730-8635, or e-mail me at
Clint Lohr, Keller Williams World Media Center.
0 votes
Angie Simpson, Agent, Studio City, CA
Thu Sep 26, 2013
It is possible provided you have steady income, good credit, and little debt. The difficulty lies in the paperwork these days. Be prepared to provide full documentation for everything. Lenders want every page of every bank statement, complete tax returns, any irregularities on your credit report explained, proof that money received was deposited and verification of where it was deposited, etc. Keep a folder handy with all your current paperwork/statements/pay stubs so you are prepared to provide this to the lender - and they will want constant updates. Organization is a key factor in making the loan approval go smoothly.

Good luck!
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