Once upon a time, two friends, Alex and Jordan, dreamed of owning homes but had zero savings for a down payment. They took two very different paths to reach their goal.
: Alex opted for a slightly higher interest rate, and in return, the lender paid his upfront fees. Summary of No-Down-Payment Options Requirement VA Loan Veterans & Military Service history + Certificate of Eligibility USDA Loan Rural/Suburban Buyers Household income below 115% of area median DPA Programs First-time Buyers Local/State grants that cover the down payment NACA Program Lower-income Buyers No down payment or closing costs; requires counseling
: Jordan used the USDA's eligibility map to find a home in a qualifying small town. how can i buy a home with no down payment
Jordan hadn't served in the military, but she loved the quiet of the countryside. She discovered the USDA Loan program, which supports low-to-moderate-income buyers in "eligible rural areas".
: Like Alex, she put $0 down , though she did have to pay a small annual guarantee fee. Once upon a time, two friends, Alex and
By the end of the year, both Alex and Jordan were hosting housewarming parties in living rooms they owned, without having spent years saving for a 20% down payment.
Both friends realized that even with $0 down, they still faced "closing costs"—the fees for lawyers, inspections, and taxes. To solve this, they used two creative "cheats": : Like Alex, she put $0 down ,
Alex had served in the military. Because of this service, Alex was eligible for a VA Loan , which allows veterans and active-duty members to buy a home with 0% down .