Many aspiring homeowners struggle to save for a down payment, often believing they need a substantial 20% upfront payment. However, options like zero-down mortgages exist, primarily through USDA and VA loans, which enable buyers to finance 100% of a home's price. Additionally, first-time homebuyers can access various programs designed to facilitate home purchasing. Understanding these mortgage options can help demystify the home-buying process and make it more achievable for potential homeowners across the U.S.
One of the biggest hurdles to becoming a homeowner is saving enough money for a down payment, a common myth that can deter buyers from making the leap.
You can buy a house with no money down through USDA or VA loans, or access low-down payment loans if those options are not available to you.
A zero-down mortgage is designed for homebuyers who may not have the cash for a traditional down payment, allowing them to borrow 100% of the home's value.
Programs are available for first-time homebuyers to assist in making homeownership more accessible, even if they haven't owned a property for three years.
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