Skip to main content
FDIC FDIC-Insured – Backed by the full faith and credit of the U.S. Government
Find a Location
Menu
Search

Low Down Payment Mortgage
Make Homeownership More Within Reach

You may not need a 20% down payment to buy a home. Explore mortgage options that may let you put less down and keep more cash available for what comes next.

Explore Your Options Explore Your Options Connect with a Mortgage Expert Connect with a Mortgage Expert

A Brighter Path Home

Plan Beyond the Down Payment

A smaller down payment may help you keep more cash available for moving costs, home expenses and what comes next.

Qualified borrowers may be able to finance 97% to 100% of the home’s value, rather than making a larger traditional down payment. 

Loan-to-value (LTV) is the percentage of a home’s value you finance. To calculate it, divide the amount you borrow by the value of the home.

LTV mortgage flexibility

More Flexibility. More Possibilities.

A lower down payment could give you more flexibility as you plan your home purchase.

Keep More Flexibility

Keep more of your available cash for moving costs, home expenses and other priorities.

Putting Less Down

You may not need to save for a traditional 20% down payment before buying a home.

Understand Your Options

A mortgage expert can help you understand what may be available and what could fit your plans.

Could It Fit Your Plans?

A higher-LTV mortgage may be worth discussing if:

You're buying a home you plan to live in

You want to put less money down

You want to keep more cash available

You're purchasing rather than refinancing

You want help understanding your options

LTV mortgage flexibility

Your Next Steps

Talk Through Your Plans

Share what you're looking to buy, the funds you have available and what matters most to you financially.

Review Your Options

A mortgage expert can help you compare low down payment options and explain the requirements, costs and tradeoffs that may apply.

Choose Your Next Step

If an option fits your situation and you meet program requirements, your mortgage expert can guide you through the application process.

Connect with a Mortgage Expert Connect with a Mortgage Expert
LTV mortgage flexibility

People who are here for you

Guidance for What’s Ahead

Buying a home brings plenty of decisions. Your mortgage should not add unnecessary confusion.

First Financial Bank has served communities since 1834. Today, that experience supports a simple promise: Trusted Guidance, Every Step of the Way.

Your mortgage expert can help you understand:

  • What each financing option means for you
  • Which program requirements may apply
  • What information you'll need
  • What to expect during the mortgage process
  • What your next step should be

It's guidance designed to help you understand the decision before you make it.

Prepare for Your Next Step

If you decide to move forward, it can help to have some basic information ready. We'll let you know exactly what you need based on your situation.

Prior 2 years of address history
Employment & income details
Recent pay stubs
Last 2 years W-2s or 1099s
Download Full Checklist Download Full Checklist

Ready for Your Next Step?

If you're ready to move forward, start your application. Still exploring? See other First Financial mortgage options to find the path that may fit your plans.

Low Down Payment FAQs

LTV stands for loan-to-value. It compares the amount you're borrowing with the value of the home. For example, a higher-LTV mortgage finances a larger portion of the home's value, which can reduce the amount needed for a down payment. Your mortgage expert can explain how LTV affects your particular financing options.

The supplied program materials describe a 97% LTV Mortgage Program and a program offering up to 100% LTV financing for qualifying purchases of owner-occupied primary residences. Specific eligibility, property and underwriting requirements differ by program.

Not necessarily. Financing up to 100% of the home's value does not mean there will be no out-of-pocket costs. The supplied 100% LTV program materials identify a minimum borrower contribution toward closing costs and state that other conditions apply. The exact current amount and applicable closing costs should be reviewed with a mortgage expert before publication or borrower use.

The supplied 97% and 100% LTV materials describe both programs as 5/5 adjustable-rate mortgages, or ARMs. Under the disclosed structure, the initial rate is fixed for five years and may then adjust at five-year intervals according to the program terms.  A mortgage expert can explain how an adjustable-rate mortgage works and help you understand how possible future rate changes could affect your payment.

Qualification depends on the specific program and your financial situation. The supplied materials reference requirements involving credit, income and asset verification, debt-to-income limits, the property being purchased and other underwriting conditions. Rather than assuming which option applies, start with a mortgage expert who can review the current requirements with you.

First Financial's supplied mortgage checklists identify common items including recent income documentation, tax documents, bank and retirement statements, address history and information about the home purchase. Additional information may be required. Your mortgage expert can tell you exactly what you'll need for your situation.

No. There are no geographic restrictions or income limitations with these higher LTV mortgage options.

Loans subject to credit approval