Buy Zero Down Homes

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A zero down payment mortgage is exactly what it sounds like: a mortgage that requires no money down at closing. Buying a home and putting no money down to do it sounds appealing to many, but in reality it’s hard to get a zero down payment mortgage in this climate, as banks no longer offer them to most consumers.

Regardless of whether you’re presently renting and are looking to buy your first home, or have owned a home before, you may feel it’s too difficult to break into the housing market because you think you require $10,000, $20,000 or even more for a down payment.

Active-duty servicemembers purchase homes on average eight years younger than civilians, despite a lower median household income, a May report from the National Association of Realtors (NAR) found.

Zero Percent Home Loans Different home loan programs Most every type of home loan program will offer the option of a fixed-rate or an adjustable-rate mortgage. A fixed-rate mortgage will have the same interest rate for the life of the loan. An adjustable rate loan, also called an ARM. Will have an initial low interest rate, usually for 5 years.