Can you buy a house with no money down? Have you thought about buying a home but felt like it will take years to save up for the down payment alone? It’s understandable to be nervous about a down payment, but it doesn’t have to be what keeps you from owning a home. Contrary to what you may have heard elsewhere, you are not required to pay down twenty percent of the home value upon closing on a deal. There are options available, particularly if you’re a first-time homebuyer, that we will discuss to pay as little down as possible and even avoid a down payment altogether.

How to Buy a House with Little to No Money Down

Zero-Down Mortgage – No Money DownHow to Buy a House with Little to No Money Down

If you’d like to avoid a down payment completely, you should look into a no money down mortgage. Although there are strict criteria to qualify for this type of mortgage, a USDA loan may be the best avenue for you. A USDA (United States Department of Agriculture) loan focuses specifically on suburban and rural areas in which the cost of housing is typically lower.

If you’re hoping to qualify for this type of loan, you’ll want to make sure your home is within those two areas. If you go to, you can do a search to discover if the area you’re moving to qualifies for this loan. You’ll also want to make sure your total household income doesn’t exceed 115% of the median income of the neighborhood, maintain a healthy credit score, and possess a lower than 45% debt-to-income ratio.

Low Money Down Mortgage

If you don’t qualify for a zero-down mortgage solution, then you may be able to qualify for a low money down payment option. There are a number of avenues you can take for this:

No matter which avenue you pursue, you shouldn’t allow the fear of a massive down payment keep you from owning your very own home. There are no money down options if you speak to your lender.  If you’re looking to buy a home in 2021, start your online search here for all Portland homes for sale, Southwest Washington and Vancouver area properties. At Matin real estate, we understand the urgency that many buyers are feeling right now and can help facilitate a transaction and prepare buyers for a tough housing market.

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