How can you buy a house with zero money down?

One hurdle many potential homebuyers face is coming up with enough money for a down payment. Fortunately, all mortgage products offered below include 100% financing options for those that qualify. Take our eligibility quiz now!

VA Loans

Veterans Affairs (VA) home loans are mortgages that are guaranteed by the U.S. Department of Veterans Affairs. As part of the 1944 Serviceman’s Readjustment act, also known as the GI Bill, qualifying veterans can purchase a home without putting any money down. A VA Loan must be obtained through a participating private lender, like

First Ohio Home Finance

USDA Loans

The US Department of Agriculture (USDA) backs this zero-dollar-down loan to encourage development in rural areas. First, you and your home must meet a few criteria to qualify. Your home must be a single-family unit and you must live in it as your primary residence. Buyers are expected to pay additional fees up front, despite the zero down payment obligation.

FHA Loans

A Federal Housing Administration (FHA) loan allows buyers to put down just 3.5% of the purchase price and is reserved for buyers who have low to moderate income. Because they are government-backed, FHA home loans have attractive interest rates and less rigid qualifications. FHA loans require mortgage insurance (PMI) throughout the life of the loan and the buyer is responsible for closing costs. The maximum amount varies by location.

First-Time Homebuyers

The Ohio Housing Finance Agency (OHFA) offers first-time home buyers down payment assistance, mortgage tax credits or grant money. This program allows you to purchase your first home while saving thousands of dollars. To qualify, you must have no previous home ownership and meet credit score and income requirements.

Where do I start?

Find a lender you can trust with experience in your market. Ask friends, family and colleagues for recommendations from lenders that have helped them in the past. Check online reviews and ratings from the Better Business Bureau to ensure you’re working with a qualified lender. It’s convenient to work with a lender in your neighborhood, making it easy for you to meet with a loan officer and get personalized service.

Get pre-qualified for a loan. This gives you an advantage when shopping for homes and will make it easier to move quickly when you find the home you want to purchase.

Start shopping around. Work with a real estate agent that you can rely on. There are a plethora of online tools like which make it easy to browse for homes and compare prices. If you don’t already have an agent, your lender may be able to refer you to an experienced partner.

Get your home! Your lender will help you through the loan process, answering any questions and making sure the process goes smoothly. Soon you’ll be ready to move in!

I’m Ready!

Contact First Ohio Home Finance

today to get started on your home loan.