The biggest myth in homebuying is that you need 20% down. In Central Florida, plenty of buyers close with zero down or close to it, using loan programs designed for exactly that. The question is not whether it is possible, it is which path fits your situation.
Zero-down loan options
- VA loans: zero down for eligible veterans and service members, with strong protections
- USDA loans: zero down in eligible rural and suburban areas, including parts of Central Florida
- Conventional 3% programs: low down payment options for qualified buyers
- State and local down payment assistance: grants and second mortgages that cover some or all of the down payment
What actually matters
Zero down does not mean zero cost. Budget for closing costs, reserves, and the reality that a low-down-payment mortgage means a bigger monthly payment than the same home with more down. A good lender walks you through both the payment and the total cost before you fall in love with a house.
How a Realtor helps
Kelly can point you to lenders who understand zero-down and assistance programs, help you find homes where seller concessions can cover closing costs, and make sure you do not waste time on homes that do not fit your plan.
Not sure if zero down is in reach for you? Tell Kelly where you are and get a clear picture of your options.
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Kelly Wheeler, the Real Estate Ninja, is a Clermont FL Realtor with eXp Realty (SL3352000). He works with buyers and sellers across Central Florida, from Clermont to Winter Garden to Davenport.