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What's the best loan for 1st time homebuyer with no money down for 60,000

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November 02 2013 - US
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Answers (3)

It will be very difficult to find a zero down payment loan unless you are a veteran or seeking a USDA approved property. If any of these apply to you, then I recommend you look into a VA or USDA loan. Otherwise, the closest thing you can get is an FHA loan that only requires a 3.5% down payment. Well I hope this helps and good luck!
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November 04 2013
Just like the response below USDA loans are great  for no down payment, make sure you check with the lender some areas are being removed from eligibility.
 
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November 02 2013
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The best loans with no money down are USDA loans (in certain rural areas) and VA loans (must be eligible).

Or, you could plan ahead, save and then entering the housing market.  Here's a link to Zillow's buyer's roadmap outlining a step by step approach.

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November 02 2013
 
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