"No" and Low-Down-Payment Options

FHA Loans

3.5% Down Payment
No Buyer Restrictions
No Income Restrictions
No Property Restrictions

First-Time Buyers

3% Down Payment
Buyer Restrictions
Income Restrictions
No Property Restrictions

VA Loans

0% Down Payment
Buyer Restrictions
No Income Restrictions
No Property Restrictions

USDA Loans

$0 Down Payment
No Buyer Restrictions
Income Restrictions
Property Restrictions

Features and Benefits

FHA (3.5% Down)

The benefits of an FHA loan are:

  • Lower Interest Rate
  • More Flexible Qualifying Guidelines

The drawbacks:

  • Large Up-Front Mortgage Insurance Premium Rolled into the Loan
  • Monthly Mortgage Insurance Premium may be Higher than Conventional Program

Learn more about FHA financing

Conventional First-Time Buyer Programs (3% Down)


  • No Up-front Mortgage Insurance
  • Lower Monthly Mortgage Insurance with Higher Credit Score Borrowers


  • Income Restrictions - maximum household income is restricted to approximately $74,400/year
  • Cannot have owned a property in the past three years (this qualifies as first-time buyer.)

Learn more about HomeReady

VA (0% down)


  • Lower Interest Rate
  • No Mortgage Insurance


  • Must be a Veteran with eligibility for the program
  • There is an Up-front Funding Fee that may be as high as 3.3%.

Learn more about VA loans

USDA (0% Down)

The benefits of a USDA Loan are:

  • Low Mortgage Insurance Fees
  • Flexible Underwriting

The Drawbacks:

  • Limits on Household Income
  • Property Restrictions
  • 1% Up-Front Fee

Learn more about USDA financing

Foundry Mortgage GUARANTEE:

If you're like most people, you want expert advice and the best deal. That's our mission! Once you've done your online research, call us to complete your home finance education. And, if we don't have the best deal when you're ready to lock in your interest rate, we'll transfer all paperwork to your lender of choice at your request. No cost or obligation. Call now to validate the "best advice" part of the agreement - you'll know within 5 minutes that we are qualified to be your expert home loan advisors. We are available 7 days 8am - 9pm.

Loan Advisor Mission Statement

"To assist others in making the best home financing decisions, at the lowest cost and interest rates available."

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Expert Home Loan Advisors

800.640.3050    info@foundrymortgage.com
5975 Shiloh Road
Ste 114-13
Alpharetta, GA 30005
NMLS 1737164 Georgia Residential Mortgage Licensee 62261