Designed for "rural" areas—which actually includes 97% of U.S. land mass , encompassing many suburban fringes. These are income-restricted (usually capped at 115% of the area median income) and offer 100% financing for "modest" dwellings. 2. Bridging the Gap: Assistance & Grants
The biggest trap for buyers with no savings isn't the down payment; it's the , which typically run 2% to 5% of the purchase price. Even with a 0% down loan, you could still owe $10,000+ on a $300,000 home at the signing table. buying a house with no savings
If you don't qualify for VA or USDA, you can often reach "zero out of pocket" by stacking low-down-payment loans with grants: Designed for "rural" areas—which actually includes 97% of
Some banks, such as Bank of America , provide grants up to $17,500 that do not require repayment to cover both down payments and closing costs. 3. The "Hidden" Zero: Closing Costs If you don't qualify for VA or USDA,