Yes, of course you can buying a house with no money down with the help mortgage and other helpful programs establish for this kind of requests for prospective homeowners depending of the income status. Some of them accept a low-down payment of 3.5% of the home total value.
This can be possible if you meet all of the lender’s guidelines as examined by the underwriter then your request will be approved while a loan will be granted to you.
If you are residing in the United state or the United kingdom with no money down to buy a house. You can be able to buy a house if you meet the eligible criteria or the terms and conditions for you to qualify. The homeownership in some countries have all fallen to low level because of the first time buyers where those with no money down will have to pay their down payment or apply for a mortgage. They do this in order to pay rent, and other important expenses.
The federal housing administration is the best option for buyers having a bad credit. Those with 600-760 credit scores will be able to qualify for as low as 10% down than those with a score of 680 above that can easily qualify with just 3.5% down than others. For those that qualify with 3.5% down in federal housing administration will be eligible for a 100% genuine gift of down payment.
It is because of all these added securities that lenders now have a rest of mind in lowering their credit score as well as their down payment with a strong requirement. This was one of the reason regarding the qualification of federal housing administration mortgage is hard because you may need at least a 680-credited score which can vary from a lender.