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

Quicken Loans offers various mortgage products, each with its own down payment requirements. Generally, the minimum down payment for a conventional loan is three percent of the home purchase price. For FHA loans, the minimum can be as low as three and a half percent. It is important to note that for VA loans, there may be no down payment required for eligible borrowers, while USDA loans also offer zero down payment options for qualifying buyers in rural areas. Different factors, such as credit score and the type of loan, may influence the specific down payment requirements. Therefore, it is advisable for potential borrowers to carefully review the various loan options available on Quicken Loans' website. This will provide a better understanding of the requirements associated with each type of mortgage.