01
Available funds
Start with the amount you could put toward down payment and closing costs.
Start with the amount you could put toward down payment and closing costs.
LOAN OPTIONS / LOW DOWN PAYMENT
You don’t always need 20% down.
Saving for a home takes time. Some loans allow a smaller down payment for eligible buyers. We’ll explain the options and how much you’d still need at closing.
Plan your down payment and closing costs
01
Available funds
02
Program fit
03
Monthly cost
Low down payment mortgages
01 · Compare down-payment paths
Some conventional options allow as little as 3% down for eligible buyers. FHA can allow 3.5%, while eligible VA and USDA loans may need no down payment. Each program has its own requirements.
02 · Look beyond the down payment
Putting less down means borrowing more. Mortgage insurance or program fees may add to the cost too. We’ll look at the payment alongside the savings you’d have left after closing.
03 · Document the funds you plan to use
Tell us what you’ve saved, the home price and where you’re looking. If you’re using gift funds or asking about assistance, we’ll explain the documents and any repayment terms.
See it with your numbers
Try a price and down payment. Add the rate from your quote to see principal and interest.
- Down payment
- 10.0%
- Loan amount
- $270,000
- Principal and interest, 30 years
- Add your rate
Before taxes, insurance and mortgage insurance. Not a quote or a commitment to lend.
Open the full calculator
Before you call
Tick off what you have. You can start without all of it.
“Helped me get my first house! … Couldn’t recommend them more!”
William Loveland
Common questions
Still wondering about something? Call (517) 580‑5050 and we’ll walk through it with you.
Could down payment assistance help?
Assistance programs have their own rules for income, home price, education and the property. Some assistance is a loan you must repay. It’s important to understand those terms before counting it in your budget.
Michigan’s MI Home Loan and MI 10K DPA are offered through participating lenders for eligible buyers. Read the state requirements, then ask us which assistance options are available with your financing.
How much do you want to put down?
Tell us what you’ve saved and what you’d like to keep after closing. We’ll work through the down payment and other costs with you.
Talk to us
What to expect when you call
Your questions answered by a local loan officer
Options compared using your own numbers
A clear next step, with no obligation to apply
(517) 580-5050
114 W Main St, DeWitt
Loan approval is subject to credit, property and underwriting requirements. Some loan products may not be available in all states. Terms, rates and fees are subject to change. This website is not a commitment to lend.
Important mortgage disclosures
Payment estimates
Calculators are educational tools. Results use your inputs and assumptions and are not a rate quote, Loan Estimate, preapproval or guarantee. Actual payments and costs may differ. Include taxes, insurance, mortgage insurance and association dues where applicable.
Refinancing and home equity
Refinancing can involve closing costs and may increase total interest or extend repayment. A lower monthly payment does not necessarily mean a lower total cost. Compare the proposed terms with your existing loan. Borrowing against your home puts your home at risk if you cannot repay.
Application and account access
Apply now and Sign in lead to ShayMak’s existing external application portal. Review that portal’s privacy policy and terms before submitting personal or financial information. An application does not guarantee approval or a specific rate.
Company and licensing
ShayMak Mortgage, LLC. NMLS #1989312. Equal Housing Opportunity. Review current company and individual licensing information through NMLS Consumer Access. Program eligibility and availability depend on your situation and location.