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
The biggest trap for buyers with no savings isn't the down payment; it's the , which typically run 2% to 5% of the purchase price. Even with a 0% down loan, you could still owe $10,000+ on a $300,000 home at the signing table.
If you don't qualify for VA or USDA, you can often reach "zero out of pocket" by stacking low-down-payment loans with grants:
Buying with zero equity means you are "underwater" the moment you sign, as selling costs (agent commissions) would exceed your home's value. FHA Down Payment Grants for 2026
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 , 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
The biggest trap for buyers with no savings isn't the down payment; it's the , which typically run 2% to 5% of the purchase price. Even with a 0% down loan, you could still owe $10,000+ on a $300,000 home at the signing table.
If you don't qualify for VA or USDA, you can often reach "zero out of pocket" by stacking low-down-payment loans with grants:
Buying with zero equity means you are "underwater" the moment you sign, as selling costs (agent commissions) would exceed your home's value. FHA Down Payment Grants for 2026
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.
