How To Buy Your First Home With No Money May 2026

: Offered by private lenders to physicians, dentists, and sometimes lawyers or CPAs. These often allow 0% down with no private mortgage insurance (PMI) based on high future earning potential. 💰 Down Payment Assistance (DPA)

: These typically range from 2% to 5% of the loan amount [2]. They cover lender fees, title insurance, and appraisals [2]. You can ask the seller to pay these (seller concessions) or roll them into some loan types [2]. how to buy your first home with no money

If you cannot find a zero-down loan, you can combine a low down payment loan with financial gifts from approved sources [1]. : Offered by private lenders to physicians, dentists,

: Costs a few hundred dollars and is paid directly to the inspector at the time of service. Never skip this step. They cover lender fees, title insurance, and appraisals [2]

: A good faith deposit (usually 1% to 2% of the purchase price) submitted with your offer [2]. This is usually credited back to you at closing, but you need the cash upfront.

: Some lenders require you to have 1 to 3 months of mortgage payments sitting in a bank account after closing to prove you will not immediately default.

: Guaranteed by the Department of Veterans Affairs [1, 2]. Available to active-duty service members, veterans, and eligible surviving spouses [2]. They require no down payment and no monthly mortgage insurance [1, 2].