low down Payment Options

HomeReady Mortgage

Discover the affordability of homeownership with a HomeReady Mortgage.

HomeReady Mortgage helps borrowers with low to moderate income buy or refinance a home by reducing the standard down payment, potentially lower interest rates and mortgage insurance requirements.

Program Benefits:
  • Very Low Down Payment – Minimum down payment for home purchase or higher loan to value options for refinance transactions*.
  • Flexible Sources of Funds - Cash for down payment allowed from multiple sources, including gifts and grants, no minimum personal funds required.
  • Affordable & Cancellable MI – Lower cost premiums and cancellable mortgage insurance** saves you more money per month down the road.
  • Online Education Tools – Gain guidance for long-term homeownership success.

*Can be used for any fixed-rate term (10, 15, 20 or 30 year)
**Restrictions Apply


WISH Program

The Workforce Initiative Subsidy for Homeownership (WISH) program is a matching grant program for low-to moderate-income individuals or families. The program offers first time homebuyers a matching grant up to $22,000 ($4 for every $1 the homebuyer puts in) * towards the purchase of a home.

Program Eligibility:
  • Borrower must have had no ownership in principal residence during the 3-year period ending on the date of purchase of the property.
  • Borrower must occupy the property as primary residence
  • Borrower must complete an approved homeownership education course. See here
  • Must meet income eligibility guidelines.
  • Single-family detached homes, condominiums, and town homes are eligible

*WISH Grants are only available to qualified borrowers. Enrollment in the WISH program does not guarantee receipt of funds.

To learn more or see if you are eligible, please contact a Mortgage Loan Officer at
800-858-8328, or MortgageLoanOfficers@PremierAmerica.com.
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