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Mom and Daughter depicting Zero Down Mortgage options in Michigan from Inlanta

Low or No-Money Down Mortgage Options in Florida

Everyone loves a low or no money down mortgage, but many people suspect it’s a rare unicorn. While a true no money down mortgage is not common for most people, MOST mortgages can be financed with a very low down payment thanks to Private Mortgage Insurance. Guild Mortgage Inlanta stays on the leading edge of the newest government-backed programs to ensure you don’t miss an opportunity if you’re eligible for a low or no money down mortgage.

There are many ways to minimize the cash you need to own your own home, from low (to no) down payments, to loan programs where your closing costs are supplied by the seller OR added to the life of your loan.

Here’s an overview of the 4 current most popular low-to-no money down programs:

  1. USDA – No money down if you meet income requirements and your property is located in a designated rural area (we can help you identify this.)
  2. VA – No money down for Veterans who qualify.
  3. FHA – As low as 3.5% with generous guidelines on less-than-perfect credit
  4. Fannie Mae or Freddie Mac – Many people think Conventional mortgages require 20% down but in actual fact if you have a strong credit rating and a debt-load ratio that can handle the payment, you don’t need more than 3% down to qualify.

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