You don't need 20% down to skip mortgage insurance. Strong-credit buyers can put 15% down with no monthly PMI - here's how.
Most buyers believe PMI disappears only at 20% down. Not true. Our Bye Bye PMI program allows 15% down with no monthly mortgage insurance for buyers for buyers with strong credit (typically mid-700s) and a qualifying debt ratio. On a typical East Bay purchase, that's both a smaller check at closing than you planned and a lower monthly payment than a 15%-down loan with PMI.
I priced this recently for a buyer who'd been told by another lender that 20% was the only way - the difference funded their emergency reserve instead of disappearing into the down payment.
If your score is close, sometimes a 60-90 day credit plan gets you there - and I'll build it with you. If PMI still makes more sense for your situation (it sometimes does at lower rates), I'll tell you that too. Book a free consult and we'll run both versions side by side.
Every real program serving Contra Costa County - CalHFA, WISH, AHOP, Smart Start and more - and how they stack.
First-time buyer grant program toward your down payment for buyers under county income limits.
Unlock your equity to buy your next home first - no double move, no contingent offer.