No Down Payment Home Loan Programs
There are a couple no down payment loan programs available. Not everyone will qualify but they are definitely worth looking into. Both are government programs and if you have limited money for a down payment and you fit the criteria, these can be excellent choices for you to get into a brand new or pre-owned home.
USDA Home Loans
USDA Loan Features:
Rural Development Loans offer benefits that are not available in any other loan programs.
No Money Down: The borrower can finance up to 100% of the appraised value of the home with zero down out-of-pocket.
No Mortgage Insurance Payments: This can significantly lower the monthly housing payment.
Flexible Credit Requirements: Potential borrowers with less-than-perfect credit can still qualify for a loan.
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