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No Down Payment Home Loan

The Quicker Path to Home Ownership

You’ve launched your career and are making some great moves. You might have some debt, but it’s manageable. You’re paying bills and saving, but will it ever be enough to buy a home? Our No Down Payment Home Loan can get you there! You’ll still need to bring some cash to the table for closing costs like inspections, prepaid insurance, and taxes, but gone are the days when well-qualified buyers needed as much as 20% down!56  Our No Down Payment Home Loan rewards your hard work. And your good income and credit score can mean a quicker path to homeownership!

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Product Features

Terms & Fees

Up to 30 Years

Application Fees


Pre-Payment Penalties


Intangible Tax


Origination Fee

$1,100 plus .25% of loan amount

Available With

Conventional Fixed-Rate; Select Adjustable-Rate Purchase Loans; Hero Home Loan's Rate Reduction Option; Single-Family Homes only

No Down Payment Home Loan

Effective Date: July 17, 2024
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Term Rate "As Low As" APR* "As Low As" Example Loan Amount Example Monthly Payment
10 Years 6.625% 6.907% $200,000 $2,283.70
15 Years 6.750% 6.951% $200,000 $1,769.82
20 Years 7.375% 7.540% $200,000 $1,595.93
30 Years 7.375% 7.503% $200,000 $1,381.35

Rates based on creditworthiness.

100% FINANCING: Certain restrictions apply. Available on select single-family purchase home loans; not available on refinance. Must be primary residence. 100% financing of verified property value at time of financing. Subject to program creditworthiness criteria, credit approval, verification, and collateral evaluation. At loan closing, borrower responsible for funds to cover prepaid reserves and closing costs such as inspections, appraisals, title insurance, etc. Gift funds not permitted. Private mortgage insurance required. Monthly payments do not include taxes and insurance; the actual payment obligation will be greater.