: Offered by private lenders to physicians, dentists, and sometimes lawyers or CPAs. These often allow 0% down with no private mortgage insurance (PMI) based on high future earning potential. 💰 Down Payment Assistance (DPA)
: Backed by the U.S. Department of Agriculture [1, 2]. These target rural and suburban homebuyers who meet specific income limits [1, 2]. The property must be located in an eligible rural area [1]. how to buy your first home with no money
: Costs a few hundred dollars and is paid directly to the inspector at the time of service. Never skip this step. : Offered by private lenders to physicians, dentists,
: Nearly every state has a Housing Finance Agency (HFA) offering grants or silent second mortgages to first-time buyers [2]. Department of Agriculture [1, 2]
: Many DPAs offer a second loan at 0% interest to cover the down payment, with payments deferred until you sell or refinance the home.
These specific mortgage types allow you to finance 100% of the home's purchase price [1, 2].
: Require only 3.5% down and have more lenient credit score requirements [1, 2].