If you do not qualify for a VA or USDA loan, you can use a standard mortgage combined with assistance programs to cover the down payment [1].
: Guaranteed by the Department of Veterans Affairs [1, 2]. Available to active-duty service members, veterans, and eligible surviving spouses [2]. They require no down payment and no monthly mortgage insurance [1, 2].
If you cannot find a zero-down loan, you can combine a low down payment loan with financial gifts from approved sources [1].
: Costs a few hundred dollars and is paid directly to the inspector at the time of service. Never skip this step.
These specific mortgage types allow you to finance 100% of the home's purchase price [1, 2].
: These typically range from 2% to 5% of the loan amount [2]. They cover lender fees, title insurance, and appraisals [2]. You can ask the seller to pay these (seller concessions) or roll them into some loan types [2].