The Federal Housing Administration, or FHA, guarantees loans with little down payments, and private mortgage insurance providers have relaxed their down-payment requirements. Its even possible to obtain a home loan today with no cash down. The nations greatest credit union provides zero-down home mortgages. The Department of Veterans Affairs, or VA, and the Department of Agriculture, or USDA, assurance house loans without any deposits.
Following are a few options for borrowers looking for low-down-payment and zero-down-payment home mortgages.
RATE SEARCH: Find a low-down-payment mortgage today.
No down payment: VA loan
The VA assurances purchase home loans with no needed down paymentfor certified veterans, active-duty service members and certain members of the National Guard and Reserves. Private lenders come from VA loans, which the VA assurances. There is no home mortgage insurance. The debtor pays a funding cost, which can be rolled into the loan quantity.