Buying A House With No Savings -

Conventional "first-time buyer" loans only require 3% down.

Designed for "rural" areas—which actually includes 97% of U.S. land mass , encompassing many suburban fringes. These are income-restricted (usually capped at 115% of the area median income) and offer 100% financing for "modest" dwellings. 2. Bridging the Gap: Assistance & Grants buying a house with no savings

Some lenders will pay your closing costs in exchange for a slightly higher interest rate. 4. The Psychological & Financial Cost Conventional "first-time buyer" loans only require 3% down

Buying with zero equity means you are "underwater" the moment you sign, as selling costs (agent commissions) would exceed your home's value. FHA Down Payment Grants for 2026 These are income-restricted (usually capped at 115% of

Some banks, such as Bank of America , provide grants up to $17,500 that do not require repayment to cover both down payments and closing costs. 3. The "Hidden" Zero: Closing Costs

The biggest trap for buyers with no savings isn't the down payment; it's the , which typically run 2% to 5% of the purchase price. Even with a 0% down loan, you could still owe $10,000+ on a $300,000 home at the signing table.

You can negotiate for the seller to pay your closing costs. For instance, you might offer $310,000 for a $300,000 house on the condition the seller pays $10,000 toward your fees.