You can ask the seller to pay your closing costs. This is often capped at 3–6% of the home’s purchase price. 3. Gift Funds
Buy a multi-unit property (like a duplex). Use a low-down-payment loan and let tenants' rent cover the mortgage. Hidden Costs to Watch For Usually 2–5% of the home price.
Buying your first home with zero dollars down is challenging but possible through specific government-backed programs and creative financing. Low to No Down Payment Programs 0% down for veterans and active service members. USDA Loans: 0% down for homes in eligible rural areas. FHA Loans: 3.5% down, which can be covered by grants. how to buy your first house with no money
FHA and conventional loans allow family members to "gift" you the down payment. You just need a signed letter stating it isn't a loan. 4. House Hacking
A small deposit made when your offer is accepted. Inspection Fees: Usually $300–$600 paid upfront. You can ask the seller to pay your closing costs
Many state and local governments offer grants or forgivable loans. These funds specifically cover your down payment or closing costs. 2. Seller Concessions
💡 Focus on improving your credit score first. A higher score unlocks better DPA programs and lower interest rates. To help you find the best path, let me know: What is your approximate credit score ? Are you a military veteran ? What city or state are you looking to buy in? Gift Funds Buy a multi-unit property (like a duplex)
I can then look up specific or income-based programs available to you.