The amount of down payment when applying for a mortgage with Fidelity Bank will vary depending on the type of mortgage program you choose: Conventional Mortgages typically require a down payment of at least 5% of the home’s purchase price. However, if you’re able to put down 20%, you can avoid paying Private Mortgage Insurance (PMI). FHA Loans, which are geared towards first-time homebuyers or those with less available cash for down payments, generally require a minimum down payment of 3.5%. VA and USDA Loans offer options for qualified applicants to finance up to 100% of the home’s value, meaning no down payment is required in some cases. Construction Loans from Fidelity may require as little as 5% down, depending on the specifics of the project and borrower eligibility. These options highlight Fidelity Bank’s flexibility in helping different types of homebuyers access the financing they need, based on their unique financial situations and the property being purchased. For specific details regarding which program might best suit your needs and exact requirements, use our Chat to connect with Fidelity Bank Mortgage Consultant.