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Compare the top low-down-payment programs side by side
Most states offer first-time homebuyer assistance programs that can be stacked with FHA or HomeReady loans — covering down payment or closing cost assistance. Ask your Safe Rate loan officer about programs available in California for additional savings.
| Product | Rate / APR ↑ | Mo. Payment ↕ | Points | ||
|---|---|---|---|---|---|
FHA 3.5% Down FHA purchase, 3.5% down +$414/mo MI | 3.5% Down680 FICO30-yr | 6.078% 7.040% APR | $5,554 Principal & Interest | $0 Points | |
5% Down Conv. Conventional, avg credit, 5% down +$593/mo MI | 5% Down700 FICO30-yr | 6.080% 6.990% APR | $5,469 Principal & Interest | $0 Points | |
Lower Credit FHA FHA for buyers with lower credit scores +$414/mo MI | 3.5% Down580 FICO30-yr | 6.185% 7.148% APR | $5,617 Principal & Interest | $0 Points | |
10% Down Conv. Conventional purchase, 10% down +$561/mo MI | 10% Down720 FICO30-yr | 6.810% 6.954% APR | $5,495 Principal & Interest | $0 Points |
Rates updated daily via Safe Rate's pricing engine using live investor rate sheets, calibrated to Santa Cruz County's local loan limits and FHFA market data. Your actual rate depends on credit score, down payment, and lender.
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Rates are representative estimates using base pricing sourced from national wholesale lenders. Safe Rate Mortgage is a broker driven platform. Estimated rates incorporate 1.40% lender paid compensation (minimum $2,000, maximum $4,000). At initial launch, no compensation occurs. Demographic and housing data sourced from public HUD and FHFA datasets.