Buying a home with no money down is possible through specialized loan programs and government assistance [1].
: Check if your employer offers housing grants or forgivable loans as a job benefit for buying a home near your workplace. 🤝 Low Down Payment Loans + Gift Funds how to buy your first home with no money
: Offered by private lenders to physicians, dentists, and sometimes lawyers or CPAs. These often allow 0% down with no private mortgage insurance (PMI) based on high future earning potential. 💰 Down Payment Assistance (DPA) Buying a home with no money down is
While a zero-down payment eliminates the upfront cost of the home's purchase price, you will still need to cover closing costs, moving expenses, and earn enough income to qualify for a mortgage [1]. 🏠 Zero-Down Mortgage Programs These often allow 0% down with no private
If you cannot find a zero-down loan, you can combine a low down payment loan with financial gifts from approved sources [1].
: These typically range from 2% to 5% of the loan amount [2]. They cover lender fees, title insurance, and appraisals [2]. You can ask the seller to pay these (seller concessions) or roll them into some loan types [2].
: Nearly every state has a Housing Finance Agency (HFA) offering grants or silent second mortgages to first-time buyers [2].