Savings | Buying A House With No

Buying a house without savings is a high-wire act of financial engineering—entirely possible, but requiring a shift from the traditional "save then buy" mindset to one focused on leveraging specific programs and understanding long-term trade-offs. 1. The "True" Zero-Down Pathways

Exclusive to veterans, active-duty service members, and eligible surviving spouses. These loans require no down payment and typically lack private mortgage insurance (PMI), though they do carry a one-time "funding fee" (usually 2.15% for first use) that can often be rolled into the loan.

Some banks, such as Bank of America , provide grants up to $17,500 that do not require repayment to cover both down payments and closing costs. 3. The "Hidden" Zero: Closing Costs buying a house with no savings

Many state and local Down Payment Assistance (DPA) programs offer grants (free money) or deferred-payment second mortgages that are forgiven if you stay in the home for a set period (often 5–10 years).

If you don't qualify for VA or USDA, you can often reach "zero out of pocket" by stacking low-down-payment loans with grants: Buying a house without savings is a high-wire

Buying with zero equity means you are "underwater" the moment you sign, as selling costs (agent commissions) would exceed your home's value. FHA Down Payment Grants for 2026

You can negotiate for the seller to pay your closing costs. For instance, you might offer $310,000 for a $300,000 house on the condition the seller pays $10,000 toward your fees. These loans require no down payment and typically

Conventional "first-time buyer" loans only require 3% down.