A down payment gift program simply gives buyers the funds for a down payment!Gift down payment programs provide up to $10,000 or 5% of the purchase price, or the lessor of the two.
These gift programs are available to all home purchasers. There are no restrictions or income limitations.
Homes that are eligible can be located anywhere in the United States. Houses may be new construction. Gift funds can be used on any owner-occupied, primary residence.
In return, the seller of a home contributes a portion of the purchase price of their home to the gift fund collection, to be used by others for down payments, and the cycle continues.
In an effort to sell a home more quickly, many sellers are willing to carry home loan financing themselves. Many times offering owner financing with no or little down payment required in an effort to attract buyers.
In the case of rent to own agreements, the seller agrees to a price that he will sell the house for at some future date. The home purchaser then pays a monthly rental amount, plus additional money. The additional money will go toward the down payment upon the purchase date agreed upon by both parties, of the home.
No. 3 HUD
For first-time homebuyers, the office of Housing and Urban Development (HUD) offers special financing for first time homebuyers. This program is based upon need and is designed to allow low-income families to obtain their first home without a significant down payment or closing fees.
Also, many HUD foreclosure homes require no down payments. Many HUD foreclosures as well as bank and other foreclosures can be found at
For those with limited incomes, the USDA Rural Development Direct and Guaranteed Loan Programs, offer home loans with nothing down. Monthly payments may be
No down payment loans are available to active and retired members of the military service, veterans, POW's and MIA's and their unmarried widows. All branches of the service are included.