HOW TO BUY A HOUSE WITH $0 DOWN PAYMENT IN 2021If you are interested in buying a house with a $0 down payment in 2021, I've got good news for you; it's not impossible.There are Mortgage programs that do not require a down payment or require little down payment.This article will explore how you can buy a house with no money down and the types of loans that require little money down, and the conditions you have to satisfy to qualify for these loan programs.BUYING A HOUSE WITH NO MONEY DOWNGenerally speaking, there are two types of home loans that require $0 in down payment, namely, USDA Loans and VA Loans. But since you may not be an active serviceman or veteran or interested in buying a home in a USDA eligible area, then a little creativity is needed.Almost all home loans allow one to be gifted the down payment so you can imagine what it will take to buy a house without a down payment; it's not going to be a stroll in the park.Mortgage loans from the Federal Housing Authority and other federally funded assistance loans require a 3.5% down payment or less.But one can also qualify for down payment assistance programs. These are programs specifically designed to help home buyers with the initial down payment while they assume the remaining responsibility arising from the mortgage.You can check the HUD website for more information on local home buying programs in your state in order to confirm whether you're eligible for any of them.USDA LOANS AND VA LOANSIf you insist on a $0 down payment loan, then it's time for you to be introduced to USDA Loans.The US Department of Agriculture started the USDA loan program to lend support to low-income families interested in becoming homeowners in designated rural areas in the country. Asides from the fact that USDA Loans don't require down payments, they also boast of the lowest mortgage insurance premium you will find out there.USDA Mortgage Insurance Premium is just 0.35% of the property's purchase price. USDA loans are also notorious for having a minimum credit score requirement of 620.Plus, you get 100% financing under a USDA loan.One other option available to you if you want to buy a house with a $0 down payment in 2021 is the VA Loan.But as earlier hinted, you have to be inactive duty or must have served in the military to qualify for this loan. There are other ways through which you can qualify, but the initial requirements are dominant.For those who meet those requirements, VA Loans don't require private mortgage insurance and down payments.All you have to do is pay a one-time funding fee charged to keep the program in the blue.The funding fee is 2.15% of the loan amount.VA Loans require a credit score of 580 and above, and if you qualify, you can count on 100% financing.One can also bring up the Good Neighbor Next Door program because it bears subtle similarities with the loan types spotlighted above. GNND PROGRAM AND OTHER OPTIONSThe GNND program is a government program that offers HUD Homes for 50% off and a $100 down payment.The people qualified for this program are teachers, firefighters, law enforcement officers, emergency medical technicians, etc.Note that those who qualify for the GNND program need to get an FHA loan to finance the property so that they can get the loan for a paltry $100 in down payment.Home Possible and Home Ready loans, as created by Fannie Mae and Freddie Mac, are also special programs designed to compete with low down payment mortgages. If you have a credit score of 620, 3% of the property's purchase price, and income below the income limit of 100% of the area's median income, then you're qualified for these programs and may apply.CLOSING THOUGHTSThere are other ways you can buy a house with a low down payment, but you will find that even though it's possible to buy a house in 2021 with $0 in down payment, such options are limited

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