NO MONEY DOWN:

If you're looking to purchase a home with no money down you definitely can, but there are some factors involved. Credit, purchase price and owner occupancy all play an important role in determining whether or not you may qualify.

The "No Money Down"; or "Zero Down"; loan is designed to offer home ownership opportunities to individuals with good credit, but who lack the ability or desire to make a down payment on a home. It provides an option for those who wish to invest their savings in assets other than their home. This loan is available for purchase or construction of an owner occupied primary residence. While not required to make a down payment, you still must have enough liquid assets to pay for the closing costs which are generally about 2%-3% of the transaction. These funds are applied towards your closing costs and may come from your own funds, a gift from a relative, a credit from the seller or a sale of assets you own.