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Zero Down Loan Availability

Q. Hey Brad, I am wondering if it is possible to still get a zero down home loan. Can you tell me as I hear different things from different agents.

A. Mike, absolutely zero down home loans are still available. In fact, we will have several options depending on where you would like to live. In Rural areas the USDA has an incredible program called the USRDA Home Loan. It truly is a zero down loan. You will be required to have mortgage insurance and probable will have a slightly higher interest rate. This program is only for rural area and does not work for mobile homes or homes with swimming pools. To check if your home qualifies use this link or as always feel free to call me.

In more urban area our options are a little different. Most of these options are not really zero down but are best considered down payment assistance programs. The most common is the Washington State Housing Finance Commission House Key program. Basically these programs loan you the money necessary for the down payment and you then pay them back. Usually the loans are zero to low interest and have favorable terms. Most of the programs require you to complete a home education class, which I teach, before closing on your home. There is simply way too many different options that depend on each buyers unique circumstance to go into detail on this reply, so it is best to speak with an agent who actively works this program.

It has been my experience that a lot of real estate brokers and lenders are unaware of the many options for either zero down or down payment assistance. And some of the lenders who are will not mention them as they typically make very little commission on this loan type.

If I can be of any more assistance, please do not hesitate to call or text me. I am here to help.


Brad S Cooper, Broker
Buying or Selling Your Move Happens Here

Coldwell Banker Danforth
2111 N. Northgate Way #101
Seattle, WA 98133
206-383-0197 Call or text

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