Fixed-rate home mortgage

How to get a fixed-rate mortgage with no down payment


Down payments can be a barrier to homeownership for some people. That doesn’t have to be the case. There are mortgage programs that can help people finance their home without a burdensome down payment, such as Fidelity’s Equity Builder Home Loan. 

Here are the details: 
Maximum Loan Amount $726,200
Amortization Terms 20 and 15 years
Minimum FICO score requirement

20-year term: 720

15-year term: 700
Minimum contribution of borrower’s funds The greater of 1% of the purchase price or $1,000
Reserve requirement 2 months of principle, interest, taxes and insurance.
Maximum seller contribution 3% of the purchase price
Maximum debt-to-income ratio 41%


The Equity Builder Home Loan is only available for purchases of single family dwellings and the home must be owner-occupied. Co-signers and non-owner-occupying co-borrowers are prohibited. Gift funds are acceptable with standard documentation and can be utilized to meet the reserve requirement.

To learn more about this type of loan, please contact one of our experienced loan officers today. 

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