0 Down Payment Home Loans – Down Payment Assistance Programs

0 Down Payment Home Loans

0 Down Payment Home Loans

Everyone desires to achieve the American dream through home ownership.  Ever since the Great Recession, for those that lack the financial resources, it seems this goal is out of reach. In fact home ownership rates are at an all time low. Because of this, lenders and housing finance agencies are offering 0 down payment home loans through down payment assistance programs.

house for sale

Home ownership before the market crash was a four trillion dollar business, now less than two trillion in total volume. That tells us a lot about where home ownership has gone in the past several years.

Sure for those with great paying jobs, excellent credit rating and money saved to make a down payment, no problem.

But what about folks that have limited income, a low credit rating or limited or non existent savings? Well there are programs available to assist homebuyers like this, with down payment assistance programs.

Home Buyer Down Payment Assistance Programs

So how do you find these opportunities to realize home ownership with no money down? By using the  home buyer down payment assistance programs available to you.  To access down payment assistance programs, contact a lender that participates in your state, county or national grant programs.


I have a close friend that has worked on a limited part time basis for a little over three years.  She earns less than $50K and easily qualifies for 0 down payment home loans through a local DPA program.

In fact, she has just purchase a new townhouse with no down payment and no closing costs. She did this through a program administered by an agency in a different county than she lives in. In fact she has no money of her own in the transaction.

Many first time buyers DPA programs exist to help people achieve the goal of owning their own home.  They do this and so can you with little or no money down.

Know Before You Apply

First you need know a few things about your financial situation before you apply for down payment assistance.

chalk board with lessons

  • What is your gross household income
  • Do you have other sources of income like dividends, child support, alimony payments etc.
  • How long you have been at your current employment
  • Know your FICO score – it may help you get a lower rate and a higher grant amount
  • How much house do you think you can afford
  • Have you owned a house in the past? Some programs limit grants to first time home owners, but many others do not.

Armed with this information you are well on your way to home ownership with a no down payment loan.

Keep exploring this site as I reveal the various low to no down payment assistance home loans available to you.

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