How to Acquire a House with No Money Down: Reddit Buyers Share Their Tips


Acquiring a property with no funds down may possibly appear like an unachievable undertaking, but with the correct procedures and suggestions, it can be reached. Reddit people have shared their tips and ordeals on how they ended up able to order a house with no a down payment. In this write-up, we will explore these tips and supply beneficial insights on how you can do the exact same.

1. Strengthen Your Credit history Score

One of the initially steps to getting a property with no funds down is to increase your credit rating rating. Creditors often look at your credit rating history to identify your eligibility for a property finance loan. By spending off debts, producing on-time payments, and maintaining your credit rating utilization lower, you can enhance your credit rating rating and increase your likelihood of qualifying for a zero down payment property finance loan.


Reddit person u/financeguru123 shared that they ended up able to increase their credit rating rating from 600 to 700 in a 12 months by spending off credit rating card financial debt and disputing faults on their credit rating report. This enhancement permitted them to qualify for a no funds down property finance loan.

2. Explore Government Programs

There are various government applications accessible that supply help to initially-time homebuyers, including zero down payment options. Programs this kind of as USDA loans, VA loans, and FHA loans supply financing options with minimal to no down payment needed.

Situation Analyze:

Reddit person u/homebuyer456 shared their working experience of making use of a VA mortgage to order a house with no funds down. As a veteran, they ended up able to just take edge of this government system to secure a property finance loan with no having to conserve for a down payment.

3. Take into consideration Seller Financing

Seller financing is one more selection to buy a property with no funds down. In this arrangement, the vendor acts as the financial institution and gives financing for the order of the house. This can be a inventive remedy for consumers who are not able to secure common financing.


Reddit person u/realestatepro789 suggested negotiating with the vendor to see if they would be open to supplying financing for the order. This can be a earn-earn condition for both of those get-togethers, as the consumer can stay away from a down payment and the vendor can market their residence speedily.

4. Help save for Closing Expenditures

When getting a property with no funds down is attainable, it is important to remember that there are continue to closing costs associated in the homebuying process. Conserving for these costs, which can involve expenses for appraisal, inspection, and title insurance plan, is crucial to finish the transaction.


In accordance to a study by the Countrywide Affiliation of Realtors, closing costs ordinarily array from 2% to 5% of the order price tag of the house. It is important to spending plan for these fees to stay away from any previous-moment surprises.

5. Get Pre-Accredited for a Mortgage

Prior to setting up your property hunt, it is suggested to get pre-authorised for a property finance loan. This will give you a crystal clear comprehension of how substantially you can manage to borrow and what kind of financing options are accessible to you. A pre-acceptance letter can also reinforce your supply when competing with other consumers.


Reddit person u/homebuyer789 shared that obtaining pre-authorised for a property finance loan permitted them to shift speedily when they observed their desire house. The pre-acceptance letter gave them an edge more than other prospective consumers who ended up not nevertheless authorised for financing.


Acquiring a property with no funds down is attainable with the correct procedures and suggestions. By increasing your credit rating rating, discovering government applications, thinking about vendor financing, preserving for closing costs, and obtaining pre-authorised for a property finance loan, you can enhance your likelihood of paying for a house with no a down payment. Reddit people have shared their tips and ordeals, displaying that with resolve and creativeness, homeownership can be in attain for everybody.

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