FHA Underwriting Guidelines     

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FHA Down Payment Guidelines

FHA loans do not have a zero down payment mortgage but the down payment can be as little as 3.5%.

Here is the exciting part, ... those funds (3.5%) can be a Gift and come from a family member, charity, or your employer. 

The person providing the gift will have to provide a gift letter and their funds will have to be sourced.  The provider will have to show where the money came from by supplying copies of withdrawal slips and bank statements.

If you are looking for zero down payment or a low down payment loan you don't have many options.  VA Loans don't require a down payment but of course not everyone can qualify for a VA Loan.

USDA Rural Development does offer two programs that do not require a down payment.  The Government offers a "Guaranteed Loan" and a "Direct Loan".  The Guarantee Loan is actually originated by outside lenders and the Direct Program is obtained through a USDA Single Family Housing office.

You can learn more about these government loans here:  USDA Rural Development loan



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