3 Ways to Help You Buy a House With No Money Down

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There are three different programs that exist to help you buy a house with no money down.

The first is a USDA loan. This is mainly for rural areas, and if you happen to live in one, you can have the Agriculture Department give you a loan for your down payment so you don’t have to come up with any money. What we also typically do is ask the seller during negotiations to pay all your closing costs, so aside from a few inspections, you’re saving a lot of money.

Another option, if you are or were once in the military, is a VA loan. With this, you don’t put any money down. It’s 100% financing, so you don’t have to bring any cash to the table. And again, any closing costs you might incur would be something we’d ask the seller to pay.

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Along with using these loans, we ask the seller to pay all your closing costs.

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Finally, there is the Virginia Housing Department 2nd Trust Program, wherein the Virginia Housing Department loans you a second trust for your down payment. This program does run out of money occasionally, but we still have plenty of lenders who use it.

As you can see, there are ways out there to buy a house with no money down and no cash being lifted from your pocket. If you have any questions about any of these programs, or you know anybody else buying or selling a home, give me a call. We’d love to help, and we hope you have a great summer.