How to buy a house without closing costs or down payments?

Depends. VA loan for example can be no money down, talk to local lender about types of loans you qualify, amount of downpayment, etc. Here in Tucson, AZ it is an extreme seller's market. Buyers should expect to pay their own closing costs. Couple of years ago I would get most if not all closing costs paid for the buyers I represented by the sellers. No longer the case in a hot, seller's market. Best of luck. Spirit

Hi Timothy, great question. This is a common and frequently asked question. Try not to rely on word of mouth or promotions for the answer. If you have not yet done so, you will get the best and most accurate answer from a mortgage lender. The answer may be yes, no or yes to half the question and no to the other half. It depends on several variables including, personal, financial details, timing, location and what the seller is offering. It also may depend on if you or another family member are Veterans and your eligibility concerning the VA Loan and benefits. If you need help finding a lender, please connect with me so I may assist you.

Yes, it also depends on your lender, some lenders offer great incentives and also buyer credits. - Alfred

In the Myrtle Beach area there are two ways to buy a home without making a down payment. The first is using a qualified V.A. Loan. If you served in the military you may be eligible. The second is to apply for a USDA loan which is available for many homes in our area.

This is a very complex question that should be answered by a lender. My opinion YES! There are many factors that have to be considered. First your credit score, then your DTI (debt to income ratios), then some rural towns have even more incentives. Many programs available you just need to fit in the right box. Talk to an expert. Google them and ask for references. The market is a sellers market in CA where I sell property we are not seeing any sellers incentives currently. Call your favorite REALTOR and see who they recommend as a lender.

There are govt. loans call Rural development that is zero down but you will have to have the seller cover the closing costs to be true zero down. There are other local bank loans that may have this option.

Yes, this can be true for some buyers with certain loans. However there are many loans you can get with a small down payment.

Some types of loans will allow a seller to pay up to 6% of the purchase price back in buyer's closing costs, pre-paids and points.