Some lenders will pay your closing costs in exchange for a slightly higher interest rate. 4. The Psychological & Financial Cost
Many state and local Down Payment Assistance (DPA) programs offer grants (free money) or deferred-payment second mortgages that are forgiven if you stay in the home for a set period (often 5–10 years). buying a house with no savings
Some banks, such as Bank of America , provide grants up to $17,500 that do not require repayment to cover both down payments and closing costs. 3. The "Hidden" Zero: Closing Costs Some lenders will pay your closing costs in
Exclusive to veterans, active-duty service members, and eligible surviving spouses. These loans require no down payment and typically lack private mortgage insurance (PMI), though they do carry a one-time "funding fee" (usually 2.15% for first use) that can often be rolled into the loan. Some banks, such as Bank of America ,