{"id":93,"date":"2024-10-04T13:33:41","date_gmt":"2024-10-04T17:33:41","guid":{"rendered":"https:\/\/www.landencade.com\/?p=93"},"modified":"2024-10-04T13:33:43","modified_gmt":"2024-10-04T17:33:43","slug":"how-to-buy-a-house-with-no-money-0-down-loans","status":"publish","type":"post","link":"https:\/\/www.landencade.com\/how-to-buy-a-house-with-no-money-0-down-loans\/","title":{"rendered":"How to Buy a House with No Money | $0 Down Loans?<\/strong>"},"content":{"rendered":"\n
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Owning a house is a dream of many. You want a space to call your own, a place where you can build your own memories and have proper security. However, oftentimes, people don\u2019t have any savings or stable income to make such a big purchase. This makes them question, “How to buy a house with no money?” <\/p>\n\n\n\n

If you’re wondering the same, this article is for you. Let\u2019s discuss how to buy a house with no money, covering different $0 down loan options to finance your home purchase.<\/p>\n\n\n\n

What is a $0 Down Loan or Mortgage?<\/strong><\/h2>\n\n\n\n

Typically, $0 down loans or mortgages are in which you, as a buyer, don’t have to make any down payment to finance your home purchase. <\/p>\n\n\n\n

In simple words, it’s a type of home loan through which you can purchase a property without making traditional down payments of 20% or 30%. <\/p>\n\n\n\n

It’s typically backed by the U.S. Department of Agriculture (USDA) and the Department of Veterans Affairs (VA). Both of these are government bodies that minimize the risk of scams to lenders. <\/p>\n\n\n\n

How to Buy a House with No Money Down?<\/strong><\/h2>\n\n\n\n

If you don’t have money in the bank or neither have a stable income source to buy a house, here are some ways you can try for \u201chow to buy a house with no money:\u201d<\/p>\n\n\n\n

Apply for a VA Loan <\/strong><\/h3>\n\n\n\n

The first thing you can try is to verify if you are eligible for a VA loan. It’s a zero-down payment mortgage backed by the US Department of Veterans Affairs that aims to help army servants secure a house without feeling burdened by financial challenges. <\/p>\n\n\n\n

If you are a member of the US military, a veteran, or a surviving spouse, you can apply for the loan. The criteria vary depending upon the years of service, whether you were deployed during war or in peacetime. Here’s an overview of the general eligibility criteria for VA<\/a> that you should meet to secure this loan:<\/p>\n\n\n\n