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Are there any first time buyer programs available with no money down?

Credit rating is 700+ and has been on his job for over 6 years.  Lives in Upper Marlboro, Md but interested in the Bowie, MD area.
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November 19 2013 - Upper Marlboro
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Unless you are a veteran or seeking a USDA approved property you will likely have to put up a down payment. The lowest available down payment is 3.5% and that is not including other closing costs. There are some community grants that can help up to 3% of the down payment but this requires some hoops to jump through including classes and paper work. This is just something you should keep in mind when you are thinking about whether or not you can afford a home. I hope this helps!

Good Luck!
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November 19 2013
HUD offers a $100 down program with some of their foreclosed properties as well.  To see all hud homes for sale, check out www.hudhomestore.com
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November 19 2013
Profile picture for wetdawgs
In some areas there are some down payment assistance programs.  If you google it, you may find some. Please be aware that they usually have restrictions such as income, and payback guidlines.

Other options as VA (if eligible) or a rural development (USDA) loan with 0% down.   For the latter, the property needs to be in specific rural areas. These loans also have income limitations.



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November 19 2013
Depending on your geographic location, you may qualify for a USDA Rural Housing program. Please contact your local lender for elligability and details about the program. 
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November 19 2013
 
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