Affordable Paths to Homeownership, Right Here in Northwest Indiana
Becoming a homeowner doesn’t have to mean saving for years. At Wells Funding Group, your trusted mortgage broker in Crown Point, IN, we help individuals and families explore low down payment mortgage options that make buying a home more accessible—no matter your budget.
What is a Low Down Payment Loan?
A low down payment loan allows buyers to purchase a home with as little as 3% to 5% down—or even no down payment at all in some cases. These loans are backed by government programs or offered through private mortgage lenders, and they’re designed to reduce the upfront financial barrier to homeownership.
Whether you’re a first-time buyer or simply looking to minimize your upfront costs, these loans offer flexible, affordable solutions.
Top Low Down Payment Loan Programs
FHA Loans
- Minimum 3.5% down payment
- More lenient credit and income requirements
- Ideal for buyers with limited savings
- Backed by the Federal Housing Administration
USDA Loans
- 0% down payment required
- Must be for eligible rural or suburban areas
- Income limits apply
- Backed by the U.S. Department of Agriculture
VA Loans
- 0% down payment for eligible veterans and service members
- No private mortgage insurance (PMI) required
- Competitive rates and flexible terms
- Backed by the U.S. Department of Veterans Affairs
Conventional 97 Loan
- Only 3% down required
- Available to qualified buyers (first-time and repeat)
- Lower PMI than FHA in some cases
- Great for buyers with good credit and steady income
Not sure which program is right for you? We’ll walk you through the details and match you with the best fit based on your goals and financial situation.
The Crown Point Advantage for Budget-Conscious Buyers
Crown Point, IN offers home buyers a balance of affordability and community appeal. Whether you’re buying your first home or upgrading on a budget, this area provides:
- Competitive home prices vs. nearby metro areas
- Access to homes in USDA-eligible zones
- Proximity to Chicago and Lake Michigan
- A range of housing styles—from starter homes to custom builds
As your local mortgage broker in Crown Point, we understand the unique market conditions and can help you take advantage of local opportunities.
Questions About Low Down Payment Loans?
Is a lower down payment more expensive in the long run?
It can be, due to mortgage insurance or higher interest rates. However, many buyers find the trade-off worthwhile for earlier homeownership. We’ll help you weigh the pros and cons.
What are the income or credit requirements?
Each program has its own guidelines, but many are accessible even with average credit scores and moderate incomes.
Can I use gift funds or assistance for my down payment?
Yes! Most programs allow gift funds from relatives, and we can help you explore down payment assistance programs available in Indiana.
What if I’m self-employed or have irregular income?
No problem—Wells Funding Group works with multiple mortgage lenders who offer flexible documentation programs for self-employed buyers.
Why Work With Wells Funding Group?
Choosing a mortgage broker over a bank gives you more loan options, more flexibility, and more personalized service. As a Crown Point-based team, we’re invested in your success.
You’ll benefit from:
- Access to low down payment loans from top national lenders
- Fast, responsive pre-approvals
- One-on-one support throughout your mortgage journey
- Local insight and community knowledge
View our full list of programs here: Home Loan Options
Take the First Step Toward Homeownership
You don’t need a 20% down payment to buy a home. With the right loan and the right team, you can turn the key to your new front door sooner than you think.
Wells Funding Group
Your Local Mortgage Broker in Crown Point, IN
NMLS: #12007