Is it true that minimum down payment for non-fha is 3%?

yes, both Fannie and Freddie Mac have such a program. With only 3% down, you will have some private mortgage insurance until you reach 78% of the loan value/

Yes, it is true. 3% down but Non-FHA or conventional loans have higher credit standards and lower DTI ratios.

Well... Yes, no, and maybe. More information is needed based on your personal situation. But yes, for the average person, both Fannie Mae and Freddie Mac offer a 3% down conforming loan options, up to the local conforming loan limit ($424,100 in most of the country). If you are a first time home buyer, you can even get reduced mortgage insurance on it. For these loans in MN, WI, and SD, visit me at www.FirstTimeHomeBuyer-MN.com

Hi Jonathan,Yes & no. VA & USDA do not require a down payment. Fannie Mae & Freddie Mac both have programs designed to compete directly with FHA. These programs offer reduced PMI & rate adjustments to help make home ownership more affordable. Both of the programs have income limits to qualify. For example: The maximum income limit for most of Houston for the Fannie Mae program is $68,000 per year.| Please feel free to contact me for more information or help. | John Burke | Senior Mortgage Banker | Great Plains National Bank http://www.valoansdoneright.com | (877)228-9069 | Lending in ALL 50 states