Question 1

Can I really buy a home with no money down?

Accepted Answer

Yes! There are loan programs like VA and USDA loans that offer 100% financing. There are also down payment assistance (DPA) programs that can cover some or all of your required down payment and closing costs.

Question 2

What is a down payment assistance program and do I have to repay it?

Accepted Answer

DPA programs provide financial help—sometimes as grants, forgivable loans, or deferred-payment loans—to cover your down payment or closing costs. Some you never have to repay, others have conditions like staying in the home for a few years.

Question 3

What credit score do I need to qualify for low or no down payment options?

Accepted Answer

It depends on the program. Some start around 580–620, but higher scores can open more options and better rates. Don't assume you're disqualified without checking!

Question 4

Do I need to be a first-time buyer to qualify for help?

Accepted Answer

Not always. Many programs define "first-time buyer" as someone who hasn’t owned a home in the past 3 years. Some programs also allow repeat buyers who meet income or location requirements.

Question 5

What income level qualifies for down payment assistance?

Accepted Answer

Each program has its own limits, often based on area median income. Some are designed for low-to-moderate income households, but many buyers are surprised to find they qualify even with steady earnings.

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