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Desperate to have my own place but hardly any money in savings right now. Is it still possible to buy a house without a down payment? Our credit is pretty good, we own both vehicles (we paid them both off way early), and I just graduated and got a good job. I’m willing to wait until I have more money if I have to but if there’s a possibility that we can buy a house without a down-payment I would love to. Thanks in advance!

5 Thoughts on Is it possible to buy a house without a down payment?
  1. Reply
    August 14, 2012 at 12:17 pm

    eh, you used to be able to, but I think it’s changed. banks lose a lot of money when people walk away from their mortgage, but with a down payment, they’re a little more hesitant to skip out.

    so probably no. generally a 10-20% down payment is required

  2. Reply
    casey Stott
    August 14, 2012 at 12:20 pm

    It was before the economy crashed. Thats what cause the housing crisis and all those foreclosures. banks where giving out credit way too easily. now after that mistake I would say no it is basically impossible. Also, if you cant save money its probably not a good idea to commit to a 30 year loan. Practicing sound financial habits, like saving, will set you up later for good decisions when it comes to that. I would say wait.

  3. Reply
    August 14, 2012 at 12:40 pm

    use either the lease option or land contract option to buy

    I can guide you further

  4. Reply
    August 14, 2012 at 12:43 pm

    If you have good credit you may be able to but will have to pay PMI insurance. Get with a good local lender and find out what you can qualify for. Also work with the seller to get help with closing costs. GOOD LUCK

  5. Reply
    the kid
    August 14, 2012 at 1:04 pm

    Not unless you qualify for a VA loan.

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