Can you get a loan with no money down and nothing due at closing?

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And add links to good mortgage calculators!
Is it possible a realtor would help or pay closing costs.

We can afford the house payments easily, we just want to get into a home before someone else grabs it! Instead of waiting a few months.

My husband is a medical resident as well, so we qualify for special loans for MDs (no money down, no PMI).

Are there any lenders anyone could recommend?

  1. Reply
    May 2, 2011 at 8:46 am

    Those loans are now history. The best one can now get is 3.5% down via FHA, with some closing costs. Easiest mortgage calculator is

  2. Reply
    May 2, 2011 at 9:20 am

    I completely agree with acermill. My husband and I are in the process of purchasing a home and we only had roughly 4% to put down. Because of this we did not qualify for a conventional loan and will have to do the FHA loan. The one thing that we are doing is asking the sellers to pay money at closing to help in all the fees associated with buying the house. This is our first time buying and I had no idea what all came with the process. It is more then just down payment and closing costs. There are also prepaid fees. With our down payment and closing and prepaid, we have to pay close to $ 8000 at closing. We are, however, asking the seller to pay $ 3000 at closing as part of our offer on their house. That way we only have to come up with $ 5000 at closing. Regardless, you will have to pay at a minimum your down payment. From what my realtor told me, your lender wants you to come to closing with money, not just rely on the seller. Everything has changed since this economic crisis and mortgage crisis has happened. They no longer offer the no down payment options. The only thing that my realtor told me could help is that if you buy a HUD home, then you only have to pay $ 100 down. Hope this helps. I have learned a lot in this whole buying a house experience!

  3. Reply
    Fort Sill Army Wife
    May 2, 2011 at 9:34 am

    We got our mortgage with zero down, and the owners paid closing cost…but then again we used the VA loan

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