What is the minimum down payment required for a Quicken Loans mortgage?

The minimum down payment required for a Quicken Loans mortgage varies depending on the type of loan. For conventional loans, the minimum down payment is 3%. However, there are options available to qualified borrowers that require even lower down payments, such as 3.5% for FHA loans and 0% for VA loans. In addition, some loan programs offer options for down payment assistance. It's important to note that a larger down payment may result in better interest rates and potentially lower monthly mortgage payments. Quicken Loans is committed to helping borrowers find the right loan for their specific needs, and will work with them to determine the most suitable down payment option.