Close

See current mortgage rates on Zillow Mortgage Marketplace

Profile picture for tienleeh

Are there home loans available with no money down?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 21 2011 - Salem
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (5)

As the have said, VA, USDA or the key bank are the only ones left that are 100%. The next thing is FHA, it is 3.5% down and you can use gifted funds. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 28 2012
Yes look into USDA Rural Housing Loans.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 22 2011
There is also a Keybank Community Fund program that is zero down.  Homes must be in certain areas of Salem to qualify. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 22 2011

If you've been in the military, VA may be an option, as Justin mentioned.  Otherwise, the route to go in most cases is FHA with a down payment grant if you qualify for one of the bevie that are available across the country.  In most cases that equates to no money down or as little as half a percent (the one I use the most is a 3% grant, leaving half a percent for down payment).   Also there is a no money down program on REOs which I'm not all that familiar with yet. 

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 22 2011
Good evening,

The short answer is yes!  VA loans don't require any down if you are an eligible veteran or if you are buying a home in a town with a population base of 20,000 people or less or outside the urban growth boundary of a larger city you might qualify for a USDA Rural Development loan.  I would recommend that you contact a Mortgage Loan Originator that is from Salem or has an office in Salem (which I do).

Good luck,

Justin Livingston
NMLS #270091
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 21 2011
 
Related Questions
Home for Dad
Profile picture for Gail  Miller-Hildebrand
Latest answer by Gail Miller-Hildebrand
December 01 2013 | 5 answers
Are there home loans available with no money down?
Profile picture for Kevin Kenagy
Latest answer by Kevin Kenagy
October 28 2012 | 5 answers
I am looking for a Resident/Physician mortgage for a home in Oregon. Any ideas?
Profile picture for Marc DeSantis
Latest answer by Marc DeSantis
May 09 2012 | 1 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 60 E Grove Ave, Gervais, OR Home For Sale
    60 E Grove Ave, Gervais, OR 97026

     For Sale: $204,500

    • Beds: 4
    • Sqft: 1645
    • Baths: 2.0
    • Lot: 6098
  2. 2085 Church St SE, Salem, OR Home For Sale
    2085 Church St SE, Salem, OR 97302

     For Sale: $257,500

    • Beds: 3
    • Sqft: 1612
    • Baths: 2.0
    • Lot: 6098
  3. 3097 Sorenson Ct NE, Salem, OR Home For Sale
    3097 Sorenson Ct NE, Salem, OR 97301

     For Sale: $115,000

    • Beds: 3
    • Sqft: 1288
    • Baths: 1.0
    • Lot: 6098