Zero Down Loans

Zero down payment loans are designed to offer home ownership opportunities to borrowers with good credit but who lack the ability or desire to make a down payment on a home. It provides an option for those who wish to invest their savings in assets other than their home.

This type of financing is popular among both first time home buyers and experienced home buyers and you can use zero down payment loans for a purchase or a refinance.

Zero down loans are found in both conventional loans and alternative products. The difference in cost sometimes balances out, when you consider the added cost of mortgage insurance. Your loan advisor will be able to break down the differences in overall cost and monthly payments to help you find the program that works best for your situation.

While you are not required to make a down payment, you must have 3% in the transaction. These funds are applied toward your closing costs and may come from your own funds, a gift from a relative, grant, or sale of assets you own.