

Open the door to homeownership with a low down payment mortgage.
Open the door to homeownership with a low down payment mortgage.
Low Down Payment Mortgages
Our low down payment mortgages can help make buying a home more affordable. Plus, down payment assistance may be available for qualified home buyers. Talk to a BMO Homebuyer Specialist today to find the loan that’s right for you.
Let’s find a low down payment mortgage that’s right for you.
Buy a home
Refinance
blank | Neighborhood Home Loan Product | FHA loans | Home Possible | Housing Finance Agency Program |
---|---|---|---|---|
Key benefits | Lowest monthly payments | Flexible guideline for getting approved | Low rates and down payment assistance up to $9,000 | Most down payment assistance available and lowest credit score required |
Minimum borrower contribution | As little as 1% of purchase price | As little as no funds from borrower | As little as no funds from borrower | As little as 1% of purchase price |
Down payment and closing cost assistance available | $1,000 to $7,500 | $1,000 to $7,500 | $1,000 to $9,000 | Up to $10,000 or more |
Mortgage insurance required | No | Yes | Yes | Yes |
Minimum credit score | 640 | 580 | 620 | 640 |
Neighborhood Home Loan Product
FHA loans
Home Possible
Housing Finance Agency Program
blank | Neighborhood Home Loan Product | FHA loans | Home Possible |
---|---|---|---|
Key benefits | Lowest monthly payments and flexible loan terms | Flexible guideline for getting approved | Low rates and flexible loan terms |
Closing cost assistance available | $1,000 to $3,000 | $1,000 to $3,000 | $1,000 to $3,000 |
Mortgage insurance required | No | Yes | Yes |
Maximum loan-to-value ratio | 97% | 96.5% | 97% |
Minimum credit score | 640 | 580 | 620 |
Neighborhood Home Loan Product
FHA loans
Home Possible
Discover how easy it is to apply online
Our online application is a quick and easy way to apply for a mortgage. You can access your application from any device, upload documents and check your loan status, getting notifications throughout the process. Watch this video to learn how fast, simple and secure your application can be.