Loans with 0% down
Two government-backed programs allow you to buy with no down payment at all, if you qualify.
- VA loans: for eligible veterans, active-duty service members and some surviving spouses. There's no monthly mortgage insurance, though a funding fee may apply unless you're exempt.
- USDA loans: for eligible buyers in eligible rural and some suburban areas, with income limits. They charge an upfront and annual program fee instead of PMI. CapCenter doesn't offer USDA loans.
Close to 0% down
If you don't qualify for VA, a low down payment loan may still work.
- Conventional loans: as little as 3% down for some buyers
- FHA loans: 3.5% down with a credit score that meets program rules
- Down payment assistance: grants or second loans that can cover some or all of the down payment
How down payment assistance works
State and local housing agencies, and some employers and nonprofits, offer help with the down payment or closing costs. Some help comes as a grant you don't repay. Some comes as a second loan, which may be forgiven over time or repaid when you sell or refinance. Income limits, price limits and homebuyer education are common requirements. CapCenter works with some housing agency programs, so ask your loan consultant what's available where you're buying.
The cash you'll still need
No down payment doesn't mean no cash. Plan for these:
- Earnest money when your offer is accepted, usually credited back at closing
- A home inspection and any add-on inspections
- Prepaid interest and your first year of homeowners insurance
- Escrow deposits for future property taxes and insurance
- Savings for moving, repairs and emergencies after closing
How ZERO Closing Costs helps
With CapCenter's ZERO Closing Costs (restrictions apply), CapCenter pays or waives lender and third-party closing costs, such as origination, title and appraisal, when a loan meets the offer terms. That can lower the cash you need a great deal. Escrow deposits, prepaid interest, VA funding fees and upfront mortgage insurance aren't covered. See Offer details.
Is zero down right for you?
Putting nothing down gets you into a home sooner, but you start with little equity and a larger loan. If prices dip, or you need to sell soon, that can be harder. Weigh the monthly payment, the savings you'll keep and how long you plan to stay. A loan consultant can compare options side by side.
