The average down payment for a house ranges from 6-13 percent, while some say you should have enough cash to put 20 percent down. If you’re looking to buy your first home with a much smaller down payment, these programs can help.

What usually comes after someone daydreams about buying their first home? The reality of all the work and expenses involved, such as meeting minimum credit score requirements and having enough cash for a down payment, closing costs, etc.

While buying your first home may not be easy, it’s certainly possible even if you don’t have the ideal credit score or a ton of cash for a hefty down payment. Thanks to programs and mortgages like these, first-time homebuyers can enjoy relaxed credit score requirements and even no money down in some instances.

First-Time Homebuyer Programs That Require Little To No Down Payment

US Bank – American Dream Mortgage

Can you buy a home with no credit score? Surprisingly, you can if you apply for the American Dream Mortgage from US Bank. It lets people apply with no credit by using non-traditional methods to assess risk. You can also apply if your credit score is low, as a 460 could get you in the door.

The American Dream Mortgage eliminates the need for mortgage insurance, but you will have to put three percent down. Some of that expense can be reduced via $10,000 in assistance towards expenses like your down payment and closing costs.

Bank Of America – Community Affordable Loan Solution

This brand new mortgage product from Bank of America makes first-time homebuying incredibly accessible and affordable. With it, you can buy a home with zero down payment or closing costs. No mortgage insurance is necessary, and there is no minimum credit score either. Rather than looking at your score, the lender will analyze your past rent, auto insurance, phone, and utility payments to ensure you are a trustworthy borrower.

Unfortunately, the Community Affordable Loan Solution is only available in primarily Black and Hispanic neighborhoods in Los Angeles, Miami, Charlotte, Detroit, and Dallas.

Citibank – HomeRun Mortgage

This mortgage product mirrors the Community Affordable Loan Solution in how it was created to help people in predominantly Black and Hispanic neighborhoods buy homes. The HomeRun Mortgage waives mortgage insurance and requires a three percent down payment. You can apply with non-traditional credit if you can afford five percent down.

One of the biggest pros of the HomeRun Mortgage is that it offers up to $7,500 in assistance for closing costs. Its biggest con is that it’s only available in Atlanta, Denver, Dallas, Cambridge, Philadelphia, Houston, and Austin.

Wells Fargo – Dream. Plan. Home. Mortgage

You can get a Dream. Plan. Home. Mortgage from Wells Fargo as a first-time homebuyer with limited credit or a low score. You will need a three percent down payment, though, and mortgage insurance is a must. Wells Fargo offers a Closing Cost Credit in some locations. Use it to get up to $5,000 to reduce your out-of-pocket expenses.