Waterstone Mortgage - Fort Walton Beach, FL

Your home purchase is a big deal, but your down payment shouldn't be. If you haven't saved a significant down payment for a home, but you’re otherwise qualified to receive financing, we have you covered. Waterstone Mortgage offers a variety of no- and low-down-payment mortgage programs to help you achieve your goal of homeownership.

No Down Payment

USDA/Rural Housing Loans

FICO as low as 600
Home must be located in designated area

VA Loans

FICO as low as 600
No mortgage insurance requirements
Available for active-duty military, veterans, reservists, and members of the National Guard, and some surviving spouses of veterans

Wealth Building Loan

FICO as low as 680
Financing through adjustable rate mortgage
Loan amounts up to $700,000
Eliminate mortgage insurance earlier in life of the loan
Finaicng the mortgage insurance with a single premium payment included in the loan amount, up to 103%* loan-to-value
Build wealth faster

Community Experts

FICO as low as 740
Financing through adjustable rate mortgage
Loan amounts up to $484,350**
Available for: CPAs, CFAs, PH.D.s, architects, CMBs, or actuaries

1% Down Payment

Community Heroes

FICO as low as 740
Financing through adjustable rate mortgage
Loan amounts up to $484,350**
Available for: police, firefighters, teachers, EMTs, or paramedics

3% Down Payment

Conventional Loans

FICO as low as 620
Variety of mortgage insurance options
Fixed and adjustable rate mortgage options
Affordable lending options with HomeReady® Program and Home Possible® Program

Select SMart Conventional Loans

For first-time homebuyers, Fannie Mae refinances, or for borrowers that meet HomeReady® requirements***
FICO as low as 620
No mortgage insurance

3.5% Down Payment

FHA Loans

FICO as low as 585
Less-than-perfect credit accepted
Energy-efficient mortgages, refinances, and renovation loans also available

5% Down Payment

Select Smart Conventional Loans

FICO as low as 620
No mortgage insurance

Jumbo Loans

Financing up to $2 million
Fixed and adjustable rate mortgage options available
Non-warrantable condo options considered
Second home Jumbo loan options available

To compare home loans and find the perfect on for your needs, locate a loan originator!

_{Geographic restrictions apply.

*Available for qualified homebuyers with FICO 720 and above. FICO lower than 720 will need to provide a down payment.

**Loan limits may be higher in some locations. Contact your loan originator to learn more.

***HomeReady has income restrictions and requires homeownership education. Homeownership education required on purchase transactions.

All loan requests are subject to credit approval as well as specific loan program requirements and guidelines. With Adjustable Rate Mortgage loans, the rate is variable and may increase or decrease every year after the initial
fixed rate period based on changes to an index. This could result in an increase in the monthly payment.}