Can i get a home loan with no money down? have good credit

Discussion in 'Personal Finance Q & A' started by New_Beginnings, Aug 4, 2016.

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  1. Can I get a home loan with no money down? I need some funds to buy a home but I don't want to pay any money down. Is it possible to get a home loan or mortgage without a down payment? In the past (Before the Subprime Mortgage Crisis) there were 100% mortgages, sometimes there you could even get 120% mortgages where improvements were needed on the home. I've been looking for a home loan with no down payment but I couldn't really find anything concrete. Just wanted to know if I can get a home loan with no money down. Thanks
    Miles likes this.
  2. Miles

    Miles Newbie

    Its virtually impossible to get a home loan with no money down. You can get mortgages with low money down options. Some mortgage companies insist on PMI (Private Mortgage Insurance) because of the higher risk associated with low money down mortgages, however, there are a growing number of organization and unions who are now offering low down payment mortgages. I got the following list of companies from another thread on the Find Some Money Forum which can be found here.

    Low Down Payment Mortgage
    (1) NASA Federal Credit Union
    (2) Republic Bank
    (3) Sofi Financial Services
    (4) San Francisco Federal Credit Union
    (5) American United Homebuyers Flex Program
    (6) Travis Credit Union
    (7) Mountain America Credit Union
    (8) Eastman Credit Union

    You can also get information on 5 low down payment mortgages anyone can afford on the video below.

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