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10+ Types of No Down Payment Required Mortgages

Updated: May 23


Many are familiar with VA loans, and fewer are familiar with USDA loans, each of which provides a mortgage with no down payment required. Many are unfamiliar with specific types of VA loans & USDA loans, & some of the other types of loans available to a broader spectrum of buyers. In this article, I wanted to share about those and some of the many alternatives. I'm also throwing in an option for $100 down loans, & some options where the buyer doesn't need to come up with a down payment, though technically they require a down payment. Please keep in mind that I am not a lender, only a licensed real estate agent.


Typically, but not always, these programs are restricted by minimum credit scores, but some agents like myself can help future buyers with their credit for free prior to purchasing.

3 Conventional loans with no down payment required for 1st time home buyers

Doctor loans at many banks

NACA: no down payment, "no" closing costs, below market rates for those below median income or those buying in areas below median income, solid buy-down options, and credit score not considered. This loan is more of a hassle than most others here, but the math checks out in many cases.

VA Loans for active duty, reserves, & former military

USDA loans in rural areas (4 Tiers, Excluding High Income)

Habitat for Humanity

FHA Plus Loan w/ Price/Loan Limits & Income Limits

FHA Plus Like Loan w/ Price/Loan Limits, No Income Limits, & 600 FICO

VA vendee loans on VA foreclosures including for non-veterans

$100 down on HUD REOs

Program-specific down payment assistance & closing cost assistance

Wrapping closing costs/prepaids into the loan

Seller paid closing cost assistance & even debt pay-down

Get a recommendation


What's best for you in SE VA? Fill out Adam's form on the subject here.


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