Is approval possible with little to no down payment? Good credit, but no savings.

Yes.. in some area's HUD offers homes for sale with $100 down.. USDA offers zero down financing for home within the USDA defined area (usually rural areas)... if you have VA benefits, you can purchase a home with zero down using VA.. HomePath financing is available on certain foreclosed homes with 3% down, and FHA allows for 3.5% down... The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hi Louie,It is certainly possible. FHA financing allows as little as 3.5% down payment which can be gifted by a family member and does not require reserves. Also, if you are a veteran, you can do aVA loan with no down payment! I would be happy to prequalify you and let you know where you stand should you be interested.

Mr Sevenson, There are many government programs that allow home buyers little to no money down. FHA - allows 3.5% down payments VA and USDA- allows for 100% finance Here at 1st National Bank we close and directly fund these loans.Each one of these loan programs has items needed to qualify. Should you want to speak further please visit WWW.HOMEMORTGAGEXPERT.COM , Peter Savino

I don't lend in Illinois but do concur with the advice provided by these three lenders. Good luck to you!

You can do an FHA loan with as little 3.5% down