The idea that you can buy a home with no money down is true for some buyers and some loan programs, but keep in mind that while some loans require no down payment, there may still be closing costs and other expenses to consider.

Programs That May Allow No Down Payment:

VA Loans – Available to eligible veterans, active-duty military members, and certain surviving spouses.

USDA Loans – Available in eligible rural and suburban areas for qualified buyers.

Down Payment Assistance Programs – Many state, local, and nonprofit programs offer grants or forgivable loans that can cover some or all of the down payment.

Even with a zero-down-payment loan, buyers may still need funds for:

Closing costs

Prepaid taxes and insurance

Home inspection

Earnest money deposit (which is typically credited back at closing)

In some cases, sellers can contribute toward closing costs, or assistance programs can help cover these expenses as well.

The best way to find out what you qualify for is to speak with a trusted lender and real estate professional.

 

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