ANT Forum

After years of renting, I’m ready to own, but my savings are tiny—even after cutting back. I hear some programs let you buy with little to no down payment, but not sure what’s realistic or who qualifies. Anyone actually pulled it off?

     

A friend from work grew up with modest means and thought owning was impossible - until she discovered zero-down mortgage options for low-income buyers through a community lender. The process involved income verification and a bit of paperwork, but she qualified for a USDA-backed mortgage that skipped the down payment. She closed last month, keeping her emergency savings intact. It took longer than a conventional loan, but seeing her key-turn moment was proof that homeownership isn’t off-limits when you think it is.
     

Yeah, it’s definitely possible, but it depends a lot on where you live and your credit situation. Programs like FHA loans or VA loans (if you qualify) let you put down as little as 3.5% or even zero, but you’ll still need decent credit and stable income. Also, keep in mind you’ll have closing costs and other fees, so “no savings” is tricky. I know people who did it by getting help from family for closing costs or using local first-time buyer grants. It’s not super common, but with the right programs and a good lender, you can pull it off. Just make sure you’re ready for the ongoing costs of owning, too.