Lenders are offering more low down payment mortgage products without the usual fees. (AP Photo/Richard Vogel, File)

Looking for a low down payment mortgage? But don’t want to pay all the extra fees? You might find what you’re looking for on the list below of regional banks who provide those products or on this list of national lenders. But I know there has to be more out there! If you know of one email me the info at amydobsonre@gmail.com or Tweet me @amydobsonre and I’ll add it to the list.

It’s been a few weeks since my 12 Low Down Payment Mortgages article about national-level lenders with better perks than your typical low down payment scenarios. Now it is time to drill down to a more local level. In the first article, seven of the banks didn’t require private mortgage insurance, many had reduced insurance costs and a bunch of them had flexibility on letting borrowers use gift funds for the down payment. Those two features showed up plenty on today’s list too, but generally speaking they all have a slightly different flavor than the big banks. Plus, many of them differ on the finer points of what they’re looking for so even if some of these programs aren’t in your area or don’t fully meet your needs they still might give you some ideas for what to look for when you shop around.

Most of the lenders on this list provide loans in more than one state. In fact, I found that in order to provide mortgage products like these banks had to have a bigger-than-local footprint so they had enough resources to support loans for people without much cash to bring to the table. To make it easier I’ve organized the list alphabetically by state and copied the details about the programs under each state. Hence, the repetition. Also, whenever I came across information about down payment assistance programs (usually from state housing authorities) I included a link to their programs too.

The biggest difference between the large lenders and these regional ones is that they have a little more flexibility when it comes to approving someone who doesn’t quite fit the list of requirements. I talked to several dozen mortgage reps around the country and the most common answer I would get when I asked about things like credit scores or reduced fees was, “It depends!” It depends on how much they’re bringing to the table. It depends on how solid a work history they have. It depends on if they’re buying a condo or a single-family house. These and so many other reasons why…it depends! Since these banks are a little closer to the communities where they work they can make decisions based on more details about an applicant than the standard checklist.

But, of course, there are some non-negotiables.

Many of these programs have limits on how much you can earn unless you’re buying a house in a census tract that is already designated low-to-moderate income. The goal there is to help revitalize those communities with homeowners who plan on staying long term. Even if you think you have too high an income, it’s worth looking in to because the income thresholds were higher than I expected in some cases. Washington D.C., for example, was about $140,000 and the Virginia suburbs near D.C. were still in the six figures. Also some of the programs say they are for first-time buyers, but they almost always define that as someone who hasn’t owned a home in the past three years. So if you got caught up in the mortgage meltdown and became a renter more than three years ago you can still qualify.

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Beyond that the details can vary quite a bit. Some places require a minimum contribution of between $500-$1,000 for the transaction (for things like appraisal or inspection fees). Some places offer only fixed 30-year rates. Some require the purchase must be a single-family dwelling. I tried to provide as many details as I could get but for the banks that really didn’t give many firm specifics I included them anyway because they could end up being a good fit for some buyers. If you end up researching those banks and find out more of the requirements please let me know and I can add the details to the list (without giving up any of your info, of course!).

Alabama

The low down payment HOME product by BBVA is geared towards applicants with an income at or below 80% of the area median income or those who want to purchase a home in a low to moderate income census tract. Borrowers can use funds from gifts, down payment assistance programs, or seller contributions to help qualify. Terms of 10, 15, 20, 25, or 30 years are available. The program is also available in Arizona, California, Colorado, Florida, New Mexico and Texas.

  • Min credit score: 620
  • No PMI
  • As low as zero down
  • Requires min $500 buyer contribution toward transaction
  • Bank may pay up to $4,500 in closing fees for applicants with low to moderate income (while funds last)
  • Two year work history required
  • 12-month documented rent or mortgage history
  • Income limits apply unless property is in low or moderate income census tract
  • Homeownership education class required
  • Cannot own another home at time of purchase

BancorpSouth has a low down payment program called the Right@Home mortgage program that is designed for people with income at or below 80% of the area median income or those who are purchasing a home in a low to moderate income census tract. It is a 30-year fixed rate product. The program is also available in Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas.

  • Min credit score: not provided
  • No PMI
  • As low as zero down
  • Non-traditional credit history accepted
  • Reduced fees
  • Single family dwellings and condos are eligible
  • Min contribution of $500

Alaska

Key Bank operates in fifteen states and provides a Community Mortgage program in all of them. Similar to other low down payment programs at the regional level applicants must make equal or less than 80% of the area median income unless the home is in an identified low to moderate income census tract, in which case there are no income restrictions.

  • Min credit score: 640
  • No PMI
  • As low as zero down
  • No minimum borrower contribution
  • Income and location based
  • Fixed interest
  • Non-traditional credit history accepted
  • Up to 4% seller contribution allowed, and can be used for closing costs or prepaid items
  • No minimum loan amount
  • Available for one to two unit owner-occupied properties including single-family, attached or detached, condos and planned unit developments
  • A HUD-approved homebuyer education workshop may be required

Key Bank also has a Medical Professional Loan for physicians, dentists, or veterinarians that does not require PMI and will loan up to $1.5million at either a fixed or variable interest rate.

The Alaska Housing Finance Corporation has a closing cost/down payment assistance program that provides either 3% or 4% of the loan amount. Find out more information about that and some of the first-time homebuyer programs here.

The Native American Homeownership Initiative has a fund to provide applicants with up to $10,000 in assistance. Disbursements are first come, first serve and the applicant is reimbursed after the loan has closed. At least one of the adult members of the household being assisted must be an enrolled member of a Federally Recognized Tribe or a member or shareholder of an Alaska Village or Regional Corporation.

The HomeStart down payment assistance fund by the Federal Home Loan Bank System provides up to $5,000 for down payment and closing cost assistance. The money is provided on a first come, first serve basis until funds run out for the year. Currently $23 million is available for the HomeStart program. Homeowners are reimbursed the designated amount after the loan closes. As a place to start, the FHLB Des Moines has information on how it works and then find your state FHLB from the main site. Member banks are also in Hawaii, Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming, the U.S. territories of American Samoa and Guam and the Commonwealth of the Northern Mariana Islands.

ARIZONA

The low down payment HOME product by BBVA is geared towards applicants with an income at or below 80% of the area median income or those who want to purchase a home in a low to moderate income census tract. Borrowers can use funds from gifts, down payment assistance programs, or seller contributions to help qualify. Terms of 10, 15, 20, 25, or 30 years are available. The program is also available in Alabama, California, Colorado, Florida, New Mexico and Texas.

  • Min credit score: 620
  • No PMI
  • As low as zero down
  • Requires min $500 buyer contribution toward transaction
  • Bank may pay up to $4,500 in closing fees for applicants with low to moderate income (while funds last)
  • Two year work history required
  • 12-month documented rent or mortgage history
  • Income limits apply unless property is in low or moderate income census tract
  • Homeownership education class required
  • Cannot own another home at time of purchase

Arkansas

BancorpSouth has a low down payment program called the Right@Home mortgage program that is designed for people with income at or below 80% of the area median income or those who are purchasing a home in a low to moderate income census tract. It is a 30-year fixed rate product. The program is also available in Alabama, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas.

  • Min credit score: not provided
  • No PMI
  • As low as zero down
  • Non-traditional credit history accepted
  • Reduced fees
  • Single family dwellings and condos are eligible
  • Min contribution of $500

California

The low down payment HOME product by BBVA is geared towards applicants with an income at or below 80% of the area median income or those who want to purchase a home in a low to moderate income census tract. Borrowers can use funds from gifts, down payment assistance programs, or seller contributions to help qualify. Terms of 10, 15, 20, 25, or 30 years are available.

  • Min credit score: 620
  • No PMI
  • As low as zero down
  • Requires min $500 buyer contribution toward transaction
  • Bank may pay up to $4,500 in closing fees for applicants with low to moderate income (while funds last)
  • Two year work history required
  • 12-month documented rent or mortgage history
  • Income limits apply unless property is in low or moderate income census tract
  • Homeownership education class required
  • Cannot own another home at time of purchase

Colorado

The low down payment HOME product by BBVA is geared towards applicants with an income at or below 80% of the area median income or those who want to purchase a home in a low to moderate income census tract. Borrowers can use funds from gifts, down payment assistance programs, or seller contributions to help qualify. Terms of 10, 15, 20, 25, or 30 years are available.

  • Min credit score: 620
  • No PMI
  • As low as zero down
  • Requires min $500 buyer contribution toward transaction
  • Bank may pay up to $4,500 in closing fees for applicants with low to moderate income (while funds last)
  • Two year work history required
  • 12-month documented rent or mortgage history
  • Income limits apply unless property is in low or moderate income census tract
  • Homeownership education class required
  • Cannot own another home at time of purchase

Key Bank operates in fifteen states and provides a Community Mortgage program in all of them. Similar to other low down payment programs at the regional level applicants must make equal or less than 80% of the area median income unless the home is in an identified low to moderate income census tract, in which case there are no income restrictions. The program is also available in Maine, Vermont, Massachusetts, New York, Connecticut, Pennsylvania, Ohio, Indiana, Michigan, Utah, Idaho, Oregon, Washington, and Alaska.

  • Min credit score: 640
  • No PMI
  • As low as zero down
  • No minimum borrower contribution
  • Income and location based
  • Fixed interest
  • Non-traditional credit history accepted
  • Up to 4% seller contribution allowed, and can be used for closing costs or prepaid items
  • No minimum loan amount
  • Available for one to two unit owner-occupied properties including single-family, attached or detached, condos and planned unit developments
  • A HUD-approved homebuyer education workshop may be required

Key Bank also has a Medical Professional Loan for physicians, dentists, or veterinarians that does not require PMI and will loan up to $1.5million at either a fixed or variable interest rate.

Connecticut

Citizens Bank has a Community Lending mortgage program that can require as low as 3% down with no PMI. It does have restrictions based on location and income, but they weren’t very forthcoming with any other details about the program. The program is also available in Delaware, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont.

Key Bank operates in fifteen states and provides a Community Mortgage program in all of them. Similar to other low down payment programs at the regional level applicants must make equal or less than 80% of the area median income unless the home is in an identified low to moderate income census tract, in which case there are no income restrictions. The program is also available in Maine, Vermont, Massachusetts, New York, Pennsylvania, Ohio, Indiana, Michigan, Colorado, Utah, Idaho, Oregon, Washington, and Alaska.

  • Min credit score: 640
  • No PMI
  • As low as zero down
  • No minimum borrower contribution
  • Income and location based
  • Fixed interest
  • Non-traditional credit history accepted
  • Up to 4% seller contribution allowed, and can be used for closing costs or prepaid items
  • No minimum loan amount
  • Available for one to two unit owner-occupied properties including single-family, attached or detached, condos and planned unit developments
  • A HUD-approved homebuyer education workshop may be required

Key Bank also has a Medical Professional Loan for physicians, dentists, or veterinarians that does not require PMI and will loan up to $1.5million at either a fixed or variable interest rate.

Delaware

Citizens Bank has a Community Lending mortgage program that can require as low as 3% down with no PMI. It does have restrictions based on location and income, but they weren’t very forthcoming with any other details about the program. The program is also available in Connecticut, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont.

District of Columbia

The D.C. Housing Finance Authority has a DC Open Doors program makes zero down payment loans possible by combining competitive interest rates and lower mortgage insurance costs on a first mortgage with a fully forgivable second trust loan to meet minimum down payment requirements.

  • Min credit score: 640
  • As low as zero down
  • Reduced mortgage insurance
  • Must earn under $140,640 per year
  • Not based on household income, only on income of borrowers
  • Must work with a real estate agent and approved lender

Florida

The low down payment HOME product by BBVA is geared towards applicants with an income at or below 80% of the area median income or those who want to purchase a home in a low to moderate income census tract. Borrowers can use funds from gifts, down payment assistance programs, or seller contributions to help qualify. Terms of 10, 15, 20, 25, or 30 years are available. The program is also available in Alabama, Arizona, California, Colorado, New Mexico and Texas.

  • Min credit score: 620
  • No PMI
  • As low as zero down
  • Requires min $500 buyer contribution toward transaction
  • Bank may pay up to $4,500 in closing fees for applicants with low to moderate income (while funds last)
  • Two year work history required
  • 12-month documented rent or mortgage history
  • Income limits apply unless property is in low or moderate income census tract
  • Homeownership education class required
  • Cannot own another home at time of purchase

BancorpSouth has a low down payment program called the Right@Home mortgage program that is designed for people with income at or below 80% of the area median income or those who are purchasing a home in a low to moderate income census tract. It is a 30-year fixed rate product. The program is also available in Alabama, Arkansas, Louisiana, Mississippi, Missouri, Tennessee and Texas.

  • Min credit score: not provided
  • No PMI
  • As low as zero down
  • Non-traditional credit history accepted
  • Reduced fees
  • Single family dwellings and condos are eligible
  • Min contribution of $500

First Horizon has an Affordable Housing Mortgage which is part of a $515 million investment over the next five years in home purchase or rehab loans to help low to moderate income borrowers buy a home. Borrowers have to make less than 80% of the area median income or buy a home in a low to moderate income census tract. The program is also available in Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia.

  • Min credit score: 620 for primary wage earner
  • No PMI
  • As low as zero down
  • Minimum $500 contribution to transaction costs from buyer
  • 30 year fixed rate mortgage
  • Max loan amount $250,000
  • Owner-occupied residences only

Fifth Third Bank has Down Payment Assistance program that provides a grant toward down payment or closing costs without the requirement to pay it back. As with many of the other programs the property has to be in a low to moderate income census tract or, if it isn’t, there are income limits for applicants. It is paired with Freddie Mac’s Home Possible Advantage Mortgage but it has a slightly lower minimum credit score than most of the others so it seemed worth including it on this list. The program is also available in Michigan, Indiana, Illinois, Kentucky, Tennessee, Ohio, West Virginia, North Carolina, Georgia, Florida.

  • Min credit score: 600
  • Grant of 3% of the home’s purchase price (up to $3,600)
  • No payback required
  • May be combined with other down payment programs

Georgia

First Horizon has an Affordable Housing Mortgage which is part of a $515 million investment over the next five years in home purchase or rehab loans to help low to moderate income borrowers buy a home. Borrowers have to make less than 80% of the area median income or buy a home in a low to moderate income census tract. The program is also available in Florida, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia. In some of these states First Horizon does business under a different name, such as First Tennessee Bank and Capital Bank.

  • Min credit score: 620 for primary wage earner
  • No PMI
  • As low as zero down
  • Minimum $500 contribution to transaction costs from buyer
  • 30 year fixed rate mortgage
  • Max loan amount $250,000
  • Owner-occupied residences only

Fifth Third Bank has Down Payment Assistance program that provides a grant toward down payment or closing costs without the requirement to pay it back. As with many of the other programs the property has to be in a low to moderate income census tract or, if it isn’t, there are income limits for applicants. It is paired with Freddie Mac’s Home Possible Advantage Mortgage but it has a slightly lower minimum credit score than most of the others so it seemed worth including it on this list. The program is also available in Michigan, Indiana, Illinois, Kentucky, Tennessee, Ohio, West Virginia, North Carolina, Florida.

  • Min credit score: 600
  • Grant of 3% of the home’s purchase price (up to $3,600)
  • No payback required
  • May be combined with other down payment programs

Hawaii

The Native American Homeownership Initiative has a fund to provide applicants with up to $10,000 in assistance. Disbursements are first come first serve and the applicant is reimbursed after the loan has closed. At least one of the adult members of the household being assisted must be a Native Hawaiian eligible to reside on Hawaiian Home Lands. In regard to Native Hawaiians, only households acquiring property on Hawaiian Home Lands are eligible.

The HomeStart down payment assistance fundby the Federal Home Loan Bank System provides up to $5,000 for down payment and closing cost assistance. The money is provided on a first come, first serve basis until funds run out for the year. Currently $23 million is available for the HomeStart program. Homeowners are reimbursed the designated amount after the loan closes. As a place to start, the FHLB Des Moines has information on how it works and then find your state FHLB from the main site. Member banks are also in Alaska, Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming, the U.S. territories of American Samoa and Guam and the Commonwealth of the Northern Mariana Islands.

Idaho

Key Bank operates in fifteen states and provides a Community Mortgage program in all of them. Similar to other low down payment programs at the regional level applicants must make equal or less than 80% of the area median income unless the home is in an identified low to moderate income census tract, in which case there are no income restrictions. The program is also available in Maine, Vermont, Massachusetts, New York, Connecticut, Pennsylvania, Ohio, Indiana, Michigan, Colorado, Utah, Oregon, Washington, and Alaska.

  • Min credit score: 640
  • No PMI
  • As low as zero down
  • No minimum borrower contribution
  • Income and location based
  • Fixed interest
  • Non-traditional credit history accepted
  • Up to 4% seller contribution allowed, and can be used for closing costs or prepaid items
  • No minimum loan amount
  • Available for one to two unit owner-occupied properties including single-family, attached or detached, condos and planned unit developments
  • A HUD-approved homebuyer education workshop may be required

Key Bank also has a Medical Professional Loan for physicians, dentists, or veterinarians that does not require PMI and will loan up to $1.5million at either a fixed or variable interest rate.

The HomeStart down payment assistance fundby the Federal Home Loan Bank System provides up to $5,000 for down payment and closing cost assistance. The money is provided on a first come, first serve basis until funds run out for the year. Currently $23 million is available for the HomeStart program. Homeowners are reimbursed the designated amount after the loan closes. As a place to start, the FHLB Des Moines has information on how it works and then find your state FHLB from the main site. Member banks are also in Alaska, Hawaii, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming, the U.S. territories of American Samoa and Guam and the Commonwealth of the Northern Mariana Islands.

Illinois

Midland State Bank’s Believable Banking Home Mortgage is another investment in low to moderate income communities and buyers. This one requires an emergency reserve fun equal to one percent of the loan and in addition to the emergency fund a $1,000 minimum contribution from borrower toward the transaction is required.

  • Min credit score: not credit score driven
  • PMI not required
  • Up to zero down
  • Single Family Residence, 1-4 Unit Buildings, Attached/Detached, and Condos
  • Most down payment assistance programs allowed
  • May not be available in every market
  • Homeownership counseling required

Fifth Third Bank has Down Payment Assistance program that provides a grant toward down payment or closing costs without the requirement to pay it back. As with many of the other programs the property has to be in a low to moderate income census tract or, if it isn’t, there are income limits for applicants. It is paired with Freddie Mac’s Home Possible Advantage Mortgage but it has a slightly lower minimum credit score than most of the others so it seemed worth including it on this list. The program is also available in Michigan, Illinois, Kentucky, Tennessee, Ohio, West Virginia, North Carolina, Georgia, Florida.

  • Min credit score: 600
  • Grant of 3% of the home’s purchase price (up to $3,600)
  • No payback required
  • May be combined with other down payment programs

Indiana

Key Bank operates in fifteen states and provides a Community Mortgage program in all of them. Similar to other low down payment programs at the regional level applicants must make equal or less than…