: State and local agencies offer grants or deferred-payment loans specifically to cover upfront costs. For example, the Illinois Housing Development Authority has programs providing up to $10,000 in assistance. Lender-Specific Programs :
: Exclusive to veterans, active-duty service members, and eligible surviving spouses.
: Includes a 1% upfront guarantee fee and a 0.35% annual fee. "Near-Zero" and Stacked Options buying a house without a downpayment
: Must obtain a Certificate of Eligibility (COE) .
: A one-time VA funding fee applies (ranging from 1.4% to 3.6%), which can be rolled into the loan amount. : State and local agencies offer grants or
: Most programs allow family members to "gift" you the money needed for closing costs, provided you have a formal gift letter stating it doesn't need to be repaid. Program Type Min. Down Payment Typical Min. Credit Score Income/Location Limits VA Loan 580–620+ None (Service-based) USDA Loan 640 (Streamlined) Yes (Location & Income) FHA Loan 580 (for 3.5% down) Conventional Some programs only
: Total household income generally cannot exceed 115% of the area median ($119,850 for a family of 1–4 in most areas). : Includes a 1% upfront guarantee fee and a 0
: Offers specialized zero-down options like the "Military Choice" and "Homebuyers Choice" mortgages for members.