What loans require the smallest downpayment possible?

100% financing,, Zero down payment,, for our combo loan that will cross collateralize with all of your assets. more info at www.superjumboloans.info

Hello RockOn - I have 3 options that do not require a downpayment and may allow you to borrower enough to help cover your costs associated with the purchase. I help you decide which of the programs is the best based on your needs, not ours...

USDA is zero down, but the property must be within the USDA defined area to qualify.. VA is zero down, but you must have VA eligibility to qualify, Conventional requires 3% down for first time home buyers, otherwise it's 5% down, and FHA requires 3.5% down.. Also, by checking with a local mortgage broker, there might be some "Down Payment Assistance" (DPA) programs available in your area, but only someone local to you would know about this.. it's possible you can get a grant for 100% of the down payment.. for this reason, I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

VA or USDA or Fannie Mae 97 or FHA

VA (qualified veterans only), USDA (only in rural areas) are both 100%; otherwise 3.5% for FHA or 3-5% generally for conventional (depending if you qualify as a 1st time buyer or a similar program). There are state housing programs that combine downpayment help with a mortgage and may be available to you as well. A good mortgage lender will look at your situation and qualificaitons and recommend the best option(s) available to you.

You might have a few options, but they are not available for everyone. If you have VA eligibility you may get 100% financing on a VA home loan. USDA offers 100% financing, but the property has to be in a designated USDA rural area and you need to stay under their max income limits. Conventional can go as low as 3% down if you are first time home buyer, FHA requires a minimum of 3.5% down payment for scores above 580 and 10% down payment for scores below 580. Depending on your local loan programs you may have some options for a grant that covers the entire or most of the FHA down payment. Speak with a local loan officer, have them review your information and present you with all of your options available. Best wishes, Sean