Is it still possible to purchase a home for little to no money down? The answer is yes, and there are actually a few different options out there.​
 
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Buying a home with no money down is still possible. There are six ways to buy a home with little or no money down. 

Here in Colorado Springs, the most prevalent is the VA loan. For this product, you must have had at least two years of military service or have a spouse who has served. This program will allow you to purchase for no money down.

Another product which allows for 0% down is the USDA loan. However, this loan is location-specific, so keep that in mind. 

First-time buyer programs can also be a great help. These programs, such as CHFA (Colorado Housing and Financing Authority) and El Paso County Turnkey, will either gift you the down payment or finance it at 0%.

"There are a number of programs specifically designed to assist first-time homebuyers."

FHA financing is another, more traditional method of obtaining a lower down payment. This particular program allows you to put just 3.5% down, and are slightly more forgiving toward lower credit scores. 

Credit unions and banks actually have a number of specific programs designed to assist first-time homebuyers in purchasing property for little or no money down. 

There’s also the route of a conventional loan. Conventional loans typically allow buyers to get into a home for as little as 5% down, though some banks will allow first-time buyers to put down just 3%. 

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.