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Buying houses for $0 down?

I hear a lot on the radio of special programs that allow buyers to purchase a house for $0 down. I believe they do a separate loan for the down payment that you pay with your mortgage as well, is this a real program?
  • April 20 2013 - Salt Lake City
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Answers (7)

All of the previous answers are great!

I would also add that some cities offer home purchase grants for people willing to move in. These are first come first serve but can be substantial in helping fund you home purchase.
  • May 07 2013
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There are some areas in Utah where you can obtain a Rural Housing Loan, but there are restrictions on if you qualify.   Utah Housing would be an other option to check out.   This program is where you can finance the down payment on top of the purchase price.

Best of luck to you in finding your new home!
  • April 21 2013
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Also depending on the area you are looking at you should consider a USDA loan.
  • April 21 2013
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Yes, there is what is called "Utah Housing" available. There are specific qualification guidelines. Talk to a lender to find out if you qualify under these guidelines. Utah Housing can help with down payment as well as with closing costs if not covered by the seller.

  • April 20 2013
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There are also programs out there that can get you 100% financing or close to it but there are conditions on the back end like pledging your assets.  Talk to your financial advisor to see what your options are.
  • April 20 2013
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If you are a US Veteran you can still buy houses with zero down with a VA Loan

When I bought my first house all I took was $50 to closing.

Any Veterans looking for loans I would be happy to help through the process.

Vince
  • April 20 2013
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Yes, there are programs such at Utah Housing that allow for 100% financing. You have an FHA loan and a second that is your 3.5% down payment.
  • April 20 2013
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