How to Buy a Home with No Money Down

Most potential home buyers often wonder how much they will need to have a loan. Fortunately, a homebuyer can buy a home without a down payment or with no money down. This is possible only for a few specific people and in some circumstances. If you live in a rural area, are a veteran, or qualify for a loan with a no down payment requirement, you can purchase a house without no down payment.  The only way you can buy a house without a down payment is by using either of the two government-backed loans. These two loans allow you to purchase a home without paying a down payment. 

‘No Money Down’ Payment Mortgage Options

VA Loans

VA loans are government-backed mortgages for veterans or service members. If you or your spouse are veterans or service members, you might be eligible for a VA mortgage that the Veteran Affairs department guarantees.  These loans do not require any private mortgage insurance or down payment, but instead, you will be required to pay a funding fee. The funding fee will cover the foreclosure costs if you default on the mortgage.   

USDA Mortgage

USDA mortgages are no downpayment or no money down mortgages backed by the United States department of agriculture for low and medium-income home buyers from the USDA eligible rural areas. These loans do not require any mortgage insurance but just pay a guarantee fee to protect the lender in case of a foreclosure. The loan does not need any minimum credit score, but in most cases, the lender requires at least six hundred and forty.   


If you want to buy a house with no down payment loan, you can consider mortgage options that don’t require down payments: government-backed VA and USDA loans can allow you to take house mortgages at no down payment. Check out our Arizona homebuyer assistance program options to learn more. 

A Lending Hand for Financing Home Mortgages

Spire Financial (A Division of AmeriFirst Financial Inc.) brings lending expertise to you. All of our loan officers offer personalized communication for every client, guiding them through the process. We can show you ways to maximize your finances and unlock future opportunities. Spire Financial keeps you in control of refinancing, debt consolidation, and home equity. Together, we can achieve your financial goals.



Spire Financial, a division of AmeriFirst Financial, Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ 85203 (NMLS # 145368). 303-595-0110. © 2022. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations apply. AmeriFirst Financial, Inc. is an independent mortgage lender and is not affiliated with the Department of Housing and Urban Development or the Federal Housing Administration. Not intended for legal or financial advice. Visit for all state licenses information. Visit NMLS Consumer Access at

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