: Like Alex, she put $0 down , though she did have to pay a small annual guarantee fee.
: Jordan used the USDA's eligibility map to find a home in a qualifying small town.
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. how can i buy a home with no down payment
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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 ,
: He didn't have to pay monthly private mortgage insurance (PMI), saving him hundreds every month.
: They asked the sellers to pay their closing costs in exchange for a slightly higher offer price. 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