Yes, No down payment is one of the top two reasons most people continue renting. Well, with a "No Money Down" program, the days of saving up for a large down payment could be over. If you have decent credit and fall into a certain income range, you could be on the road to owning a home with absolutely no down payment! Many people unfortunately get stuck in the "Rent Trap". That being, you may be able to afford a home but coming up with a substantial down payment is difficult because of monthly rent. Several no money down programs are available these days, just consult a loan broker

Also, not to be confused with INVESTMENT property for no money down which many people ask about is indeed possible. But the difference is that you must have cash on hand at your disposal. For investment property, the term NO MONEY DOWN is a play on words where technically you dont make a down payment on the property specifically but it does take a considerable amount of cash in order to do the deal. One common method of doing this is finding someone who is facing foreclosure (you might have seen ads relating to helping people with that kind of problem) and then offering them a substantial amount of cash in exchange for the house. For example- Say the owner is facing foreclosure and is 3 months behind or more. An investor will come along and offer the owner a way out of the situation. The investor will make all of the back payments, assume the mortgage, and give the owner $5000 in cash in exchange for the house. It ends up being a win-win situation for both parties because the investor gets a house without having to make a down payment or pay closing costs and the owner gets out of bad situation unscathed and gets PAID for it.

The best way to buy a home with $0 down is to have excellent credit. If you have poor credit or no credit you will have to work harder to qualify. If you have excellent credit you can put together a loan package that consists of a 1st mortgage of 80% of the sales price, plus a 2nd mortgage that is for 20% of the sales price. You pay your own closing costs and escrow set-up amounts. The rate on both loans will be a little higher than the plain vanilla mortgage with regular down payment, but the combination of the 2 payments is often lower than if you borrowed 100% in one loan because the cost of mortgage insurance is astronomical when you have a maxed out loan amount. If you have bruised credit or no credit, work with a Loan Officer or company that understands FHA. FHA loans are not just for shaky borrowers. The downpayment requirement is as low as 3% and they are working on a zero down program. Here's the benefit. That downpayment money can be a gift from your family or even a loan from your family as long as your income qualifies you to make both payments. I am still adding content to my mortgage site, but right now I have quite a bit of information about the whole mortgage process. www.2rhouse.org

right now it is going to be really hard to get a 100% or even a 80/20 you have to have a score above 680 if you are even concidering it in california or in the nation many banks are going out of business. i just got a list of 25 major lenders closing down. even countrywide is going to stop it since they are in talks of being bought by bank of america.

it was.. if you have great credit ratings and a high enough income..it may still be possible..contact a good mortgage broker and shop around