How to Buy a House With No Money Upfront: 9 Ways To Make It Happen

For first-time homebuyers, the down payment is often the biggest barrier to homeownership. A lot of us went through the post-college days where we ate ramen every night, shopped the clearance bins, and went to the dollar theater while getting on our feet. But even if you pinch pennies, it’s often not enough to save up for a home.

In many parts of the country, saving a large sum while also paying rent can be difficult. But if you’ve been stuck on that 6% to 7% down payment amount, there’s good news!

Chiquita Pittman is an experienced agent in New Jersey who works with 7 more townhomes and 20 more condos each year than the average agent in her area.

She says that through combining state programs and with the seller paying closing costs, she had one buyer who “only had to bring $3,500 to the table.”

If buying a house with little to no money sounds good to you, read on for our nine tips on how to get it done.

How do you buy a house with no money?

For most borrowers, you’ll need money for the down payment and closing costs. To lenders, this demonstrates that you’re willing to invest in the home, making you a key stakeholder. It also reassures them that you are less likely to stop making payments on the loan, sending the home into foreclosure.

However, for many homebuyers, putting 6%-7% down on hundreds of thousands of dollars is out of reach. While some mortgages allow you to put between 3% and 5% down, you need to know where to look.

There are also some zero-down programs that exist, plus other creative ways you can buy a house without having a lot of money in the bank.