Certain loan programs and assistance options allow buyers to qualify with little or no down payment.
Buying a home with little or no money down is more common today than most people realize. Several loan programs are designed specifically for buyers who may not have a large amount saved for a down payment. Options like USDA loans, VA loans, and certain down-payment assistance programs allow qualified borrowers to get into a home with minimal upfront cash. Even some conventional lenders offer 3% down options that can be paired with grants or seller credits to reduce the required out-of-pocket amount.
That said, qualifying for a low- or no-down-payment mortgage still requires meeting certain criteria. Lenders will review your credit score, income stability, debt-to-income ratio, and overall financial profile to make sure you can afford the monthly mortgage payment. Programs with no deposit usually have additional guidelines, such as geographic restrictions (USDA), military eligibility (VA), or income limits depending on where you live.
For buyers who don’t qualify for these specific programs, there are still ways to reduce the amount of cash needed upfront. Many states and cities offer down-payment assistance, and some lenders provide credit toward closing costs, which can help bridge the gap. You can also use gift funds from family, negotiate seller concessions, or explore lender-paid mortgage insurance options that reduce the cost of buying a home.
The bottom line: yes, it’s absolutely possible to get a mortgage without a deposit — but it depends on your situation and which programs you qualify for. Working with a knowledgeable loan officer can help you understand your options, compare programs, and structure the loan in a way that minimizes your upfront cost while still keeping the payment affordable long-term.
