When you buy with $0 down, you are financing 100% of the home's value. This makes you a "higher risk" to the bank. However, your acts as a safety net. It proves you’re a reliable borrower, which allows lenders to offer you these zero-down programs without hitting you with massive interest rates. The Bottom Line
You’ve done the hard work of building a stellar credit score, but that mountain of a down payment still feels out of reach. Here’s the good news: having great credit is your "golden ticket" to mortgage programs that don’t require a single penny down.
Low down payment options designed for credit-worthy buyers. buying a house with no down payment and good credit
A score of 640+ usually triggers "automatic approval" in their system, meaning less paperwork and a faster closing for you. 3. Conventional 97 or HomeReady®
If you are a doctor, lawyer, or high-earning professional, many banks offer "Specialty Loans." 0% down and no PMI, even on jumbo loan amounts. When you buy with $0 down, you are
While the "20% down" rule is a myth, buying with 0% down is a reality. Here is how you can leverage your high credit score to move in sooner. 1. The VA Loan (For Veterans and Service Members)
0% down payment and no private mortgage insurance (PMI). It proves you’re a reliable borrower, which allows
While the VA doesn’t set a minimum score, lenders do. Your good credit will help you snag the lowest possible interest rates, making an already great deal even better. 2. The USDA Loan (For Rural and Suburban Buyers)