Question:

Is buying a home with no down payment mortgage possible?

Answer:

There are many grant assistance programs for low and moderate income families that make buying a home with no down payment mortgage possible. Some of them will contribute as much as 10% towards your down payment, others will give you $10-15,000.

If you have excellent credit and little or no cash, 100% financing or 80/20 with a large lender may be your top choice. Buying a home with no down payment mortgage is particularly useful for people who are using their cash into an investment vehicle and don't want to liquidate it for a down payment on a house.

Minority households should research different federal and state programs developed to assist them in buying a home with no down payment loan. FHA, ADDI, GNND are just examples of government sponsored programs available to low and average income and minority households.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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