If you can afford monthly mortgage payments and other living expenses, these low or no down payment mortgage programs make homebuying more affordable and offer a variety of advantages:
Department of Veterans Affairs (VA) loans are created for eligible military veterans, service members and their spouses. They offer attractive interest rates and the ability to borrow up to 100% of the home’s value.
United States Department of Agriculture (USDA) loans are offered to rural property owners with a low-to-moderate income for their area. Zero down payment options are a benefit of USDA financing programs.
FHA, FNMA HomeReady and FHLMC Home Possible Mortgages loans are a lending option designed for low-to-moderate income borrowers with less-than-perfect credit and limited cash for a down payment. They also offer very flexible sources of down payments, including gifts and down payment assistance programs.