Achieve the dream of homeownership with our 3% Down Payment Loan Program 

Has needing a big down payment kept you from owning a home? Instead of waiting years to save for a hefty down payment and possibly missing out on historically low interest rates, use our 3% Down Payment loan program to purchase a home.     

Benefits & Highlights  

  • Great program for first-time buyers looking to purchase a home with as little as a 3% down payment 
  • Fixed Rate Mortgage (FRM)–provides consistent monthly payments for the life of the loan 
  • Comparable to FHA    
  • Learn more with a customized rate quote

Program Requirements - Home Purchase Only 

  • Credit qualifications apply1
  • 3% down payment/ 97% Loan-to-Value (LTV) maximum
  • Maximum loan amount of $424,100
  • Private Mortgage Insurance (PMI) is required (monthly premium)
  • Available for owner-occupied properties only
  • Condominium properties are eligible - condo project must meet eligibility requirements

Northwest Federal Advantage  

  • Competitive rates
  • Free pre-approvals with 24/7 automated loan decisions through our online application
  • Lending representatives offering unbiased, trusted information
  • Northwest Federal maintains the servicing for the life of your loan
  •  Bonus benefit–earn reward points on your NWFCU Member Rewards MasterCard®   

 1 Not all borrowers will qualify for 3% down payment; credit qualifications apply.  

Obtaining any loan with Northwest Federal requires membership eligibility and becoming a member by opening a primary savings account with a minimum deposit of $1.00.