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Can someone buy a home with no money down. Asked by an anonymous Tumblr user. According to the...

Posted Feb 17 2014 10:00am
Can someone buy a home with no money down.

Asked by an anonymous Tumblr user.

According to the U.S. Department of Housing and Urban Development :

There are mortgage options now available that only require a down payment of 5% or less of the purchase price. But the larger the down payment, the less you have to borrow, and the more equity you’ll have. Mortgages with less than a 20% down payment generally require a mortgage insurance policy to secure the loan. When considering the size of your down payment, consider that you’ll also need money for closing costs, moving expenses, and - possibly -repairs and decorating.

Learn more about how to buy a home with a low down payment .

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