Saving for a down payment is big undertaking and often a major hurdle to buying a house. That’s why Civista is committed to using our extensive mortgage expertise and resources to help buying a home a reality. A champion of responsible homeownership, our team supports a variety of specialty programs that promote affordability and flexibility for both returning and first-time homebuyers.
No to low down payment programs
Offer low down payment options and down payment assistance can come from gifts or grants.
Civista is pleased to annually offer grants through the Federal Home Loan Bank of Cincinnati’s Welcome Home Loan Program. Funds are limited and offered on a first-come, first-served basis.
Although applications for the 2018 program grants have closed, Contact a Civista Mortgage Specialist to learn more about household income limits and other eligibility requirement for the Welcome Home Loan program grants.
- An FHA loan is insured by the Federal Housing Authority.
- Down payments as low as 3.5%.
- Gift money and grants may fund your down payment.
- FHA Mortgage Insurance is required through the life of the loan. The premium is calculated based on the loan amount.
- A VA loan is backed by the Veterans Administration to help veterans and their families purchase a home outside of conventional mortgage standards.
- No down payment required as long as the sale price doesn’t exceed the appraised value.
- Review Certificate of Eligibility requirements for service members, veterans, spouses and other eligible beneficiaries.
- Private Mortgage Insurance is not required.
- USDA Guaranteed Loans are backed by the United States Department of Agriculture and are designed for eligible rural and suburban homebuyers.
- Low rates with zero down payment requirement.
- Income limits vary by location. Learn more about USDA loan eligibility or contact a Civista Mortgage lender near you.
- Down Payment as low as 3% of the home's purchase price.
- No minimum borrower contribution toward down payment. Funds can come entirely from other sources (gifts and other assistance programs).
- Allows for co-borrowers (like parents) who do not live on the property with you.
- Income from extended family living with you may be considered in loan qualification.
- A required homeowner education course prepares you for the ongoing responsibilities and costs of homeownership.
- No income limits for properties in low- income neighborhoods.