All You Need to Know About Zero Down Payment Mortgages & Its Types Do you want to buy a new home but aren’t sure which mortgage loan is right for you? Choosing the right home loan is an important first step to making your dream of home ownership a reality. There are many mortgage loan programs and options to choose from, one of those options is a zero-down payment home loan. Another option is to put a down payment on the home at the time of purchase. Don’t let the fear of not being able to qualify for a home purchase stop you from owning a home. Depending on your situation, the zero-down payment mortgage loan might be the perfect option for you. Mortgage companies are knowledgeable when it comes to who can qualify for certain loan programs. They will help you determine if a specific loan program is right for you. In some cases the mortgage company may require a down payment as part of the home loan.
Your mortgage loan representative will help you choose the right program. There are many types of mortgage loans to choose from based on your unique situation. Below are some common types of home loans that may include a zero-down payment option: 1. Veterans Affairs (VA) loans: Veterans Affairs (VA) mortgage loans are offered by the US Department of Veteran Affairs designed specifically for those who have served or are serving in the military. VA loans typically offer low interest rates and have low closing