DOWN PAYMENTS AS LOW AS 3%^

MYTH BUSTED: YOU DON'T NEED 20% DOWN

K. Hovnanian® American Mortgage offers many loan options that don't require 20% down. Explore the loan programs below to find your financial fit.

Find Your New Home Today:

Learn More About the Loans:

Fannie Mae Conventional 97% LTV

Down Payment: 3% Down

Income Restrictions: No

Benefits

  • Maximum loan is $417,000
  • Must be a first-time homebuyer
  • Reduced down payment for credit-worthy buyers

REQUEST MORTGAGE INFORMATION

FIND YOUR NEW HOME TODAY

Fannie Mae Home Ready®

Down Payment: 3% Down

Income Restrictions: Up to 100% of area median income or more in high cost-of-living areas

Benefits

  • Flexible credit requirements, permitting rental income, non-borrower resident income (roommates, for example) and non-resident borrower income (parents, for example)
  • Borrower not required to be a first-time homebuyer
  • Gifts permitted for funding down payment
  • Cancellable mortgage insurance

REQUEST MORTGAGE INFORMATION

FIND YOUR NEW HOME TODAY

FHA Loan

Down Payment: 3.5% Down

Income Restrictions: No

Benefits

  • Flexible credit requirements, permitting non-owner-occupied resident borrower income (parents, for example)
  • Low minimum credit score requirements
  • Borrower not required to be a first-time homebuyer
  • Gifts permitted for funding down payment

REQUEST MORTGAGE INFORMATION

FIND YOUR NEW HOME TODAY

Freddie Mac Home Possible® Advantage

Down Payment: 3% Down

Income Restrictions: Up to 100% of area median income or more in high cost-of-living areas

Benefits

  • Borrower not required to be a first-time homebuyer
  • Gifts permitted for funding down payment
  • Reduced mortgage insurance coverage

REQUEST MORTGAGE INFORMATION

FIND YOUR NEW HOME TODAY

VA Loan

Down Payment: None Required

Eligibility Restrictions: Active-duty service members, veterans and surviving spouses

Benefits

  • No down payment on loans up to $417,000
  • No private mortgage insurance
  • Flexible credit requirements

REQUEST MORTGAGE INFORMATION

FIND YOUR NEW HOME TODAY

USDA Loan

Down Payment: None Required

Eligibility Restrictions: Homebuyers who plan to occupy a home in designated rural areas

Benefits

  • Borrowers can use money from a gift or a grant
  • Flexible credit requirements
  • No maximum purchase price
  • Supports low to moderate income in eligible areas

REQUEST MORTGAGE INFORMATION

FIND YOUR NEW HOME TODAY

^All loan programs are subject to qualification, credit approval, income verification, collateral evaluation, and subject to change without prior notice. Government Sponsored Enterprise (GSE) area loan limits apply. Loan programs with additional down payment options are available. We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and market program in which there are no barriers to obtaining housing because of race, religion, sex, handicap, familial status, or national origin. K. Hovnanian American Mortgage L.L.C., 3601 Quantum Boulevard, Boynton Beach, Fl. 33426. NMLS #3259. (www.nmlsconsumeraccess.org). Licensed by the Arizona State Banking Department No. 0906585. Licensed by the California Department of Business Oversight under the California Residential Mortgage Lending Act., Licensed by the Delaware Office of the State Bank Commissioner. Licensed by the District of Columbia Department of Insurance, Securities and Banking Bureau. Licensed by the Florida Department of Financial Services. Georgia Residential Mortgage Licensee No. 22272. Licensed by the Illinois Residential Mortgage Licensee. Licensed by the Maryland Commissioner of Financial Regulation. Licensed by the New Jersey Department of Banking- First Mortgage/Second Mortgage Loan License. Licensed by the South Carolina Board of Financial Institutions. Registered with the Texas Savings and Loan Department. Virginia State Corporation Commission: License MC-2661. Not available to homebuyers in Ohio, Pennsylvania, West Virginia, Westshore master planned community (Sacramento, CA), K. Hovnanian’s® Four Seasons at Great Notch Spa & Club (Clifton, NJ), Sauganash Glen (Chicago, IL), Amberley Woods (Lake Forest, IL) or Christina Court (Arlington Heights, IL).