Archive for May, 2008

First time home buyers can use the form below to ask questions. I will answer your questions both here and by video on youtube. Occasionally I will have other industry experts answer your questions especially if the answer to the question is related to a particular state or city first time home buyer program.  I will try to respond to your questions in 24 hours or less.


The answer is generally no, in fact it is still possible to buy a home with no down payment. That said, not everybody will qualify for this mortgage program so I will mention a few things to consider if you are planning to buy a home with no down payment.

There are very few if any 100% purchase programs remaining in the mortgage markets today. Not long ago home buyers could get either one mortgage for 100% of the purchase price or combine a first mortgage for 80% of the value and a second mortgage for the other 20% of the purchase price. A lot has changed over the past 12 months as I’m sure you have heard and it is difficult to turn on your TV or surf the Internet without seeing something about the current mortgage crisis. So how does a first time home buyer purchase a home with no money down today? With a combination of an FHA mortgage and a 3% down payment made by the seller through one of many down payment assistance organizations.

FHA mortgages are readily available throughout the country and any one of our First Time Home Buyer Consultants can advise you on how to apply for an FHA mortgage in your area. The trick is to find someone who fully understands how the down payment assistance programs (DPA) work and has experience putting them together. The best results for this FHA mortgage combined with down payment assistance from the seller come from working with both a mortgage professional and a Realtor who both have experience with FHA and DPA programs. The easiest way to find experienced professionals is to call our home buyer hotline, or fill out our pre-approval form on  and a local qualified first time home buyer consultant will follow up with you. The other option is to start calling and interviewing Realtors and mortgage companies in the local yellow pages until you find someone who appears to know what they are talking about.

The bottom line is qualified buyers can still buy a home with no down payment and in my next post, I will talk more about the down payment assistance programs, specifically the Nehemiah program.

My name is Ken Horst and I created this blog to help first time home buyers prepare for the purchase of their first home. I have been working with first time home buyers for the past 6 years as a loan officer and have been able to help many people enjoy home ownership, who didn’t think they would be able to buy a home. On this blog, I will answer readers questions, provide links to other sites with home buyer info, and share information with first time homebuyers in order to help them wade through the myths and avoid the pitfalls that can really mess up their purchase transaction. I will also share this space with a number of real estate professionals who will also share their expertise, primarily on a more local level and offer help to home buyers in their cities and metro areas where they are the experts.