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Minimum Down Payment

We are moving to San Diego from Utah for a job.  Houses are so much more expensive.  Can we do a zero down mortgage loan there with good credit?
  • January 19 - San Diego
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Answers (5)

When it comes to a down payment, it will be very difficult to obtain mortgage without one, unless you are a veteran or seeking a USDA approved property. If either of those apply to you, then I recommend that you look into a VA or USDA loan which do not have a required down payment. Otherwise, FHA is the closest thing you'll get with 3.5% down along with closing costs. The best thing for you to do is to speak with a lender such as myself to see if you can get started on financing a new home. If you have any further questions or if you would like a loan, feel free to contact me.

Good Luck!
  • January 20
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VA or USDA are the ONLY 100% financing available today and all other loans available require skin int he game.

VA- Yes,  If you have served our country and thank you for our freedom.

USDA- If you like Rural areas and want to drive a long ways to work. You can look up qualifying areas here: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?NavKey=home@1
  • January 19
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There is USDA eligibility in and around San Diego which would be another option to a VA loan.  
  • January 19
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Profile picture for wetdawgs
There are sections of CA where housing is so expensive that it is prudent to use the NY Times rent vs buy calculator.  Some places it is possible to end up with 40 to 50 years as a break even point!



  • January 19
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No, the only zero down option would be if you are eligible for VA financing.
  • January 19
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