Often the largest obstacle to homeownership is the down payment. A zero down loan might be the answer for you. As the name suggests, a zero down loan is a home mortgage that requires no down payment. You pay standard closing costs.

Some Zero Down loans may have additional fees and we talk about any additional costs before going forward so you have the complete picture.

There are currently two types of government-sponsored loans that allow you to buy a home without a down payment: USDA loans and VA loans. Each loan has a very specific set of criteria you need to meet in order to qualify for a zero-down mortgage.

A zero down mortgage may be right for you. Keep your cash and still achieve the dream of homeownership.

Before deciding if a zero down mortgage is the right choice for you, carefully consider the benefits and drawbacks, and determine what is likely to work best in your situation.

Not having to come up with cash down payment is a big plus when buying a home. You will be enjoying homeownership sooner, taking advantage of low rates and high approval rates, or dips in the housing market.

You might have the money for a down payment but want to keep some cash on hand for repairs or renovations. You might have another goal in mind like paying off a student loan or funding a new retirement plan. Keeping your cash available would make these goals easier to achieve.