Can You Buy a Home With No Down Payment in Jacksonville?

Can You Buy a Home With No Down Payment in Jacksonville?

Learn How to Buy a Home With No Down Payment

Looking to buy a home with no down payment in Jacksonville, Florida? Depending on the price of the house, a down payment could be as much as $20,000 or more. 

Many home buyers, especially first-time buyers, often don’t have this much money to spare. As a result, they may wonder if there’s a way to buy a home with no down payment.

The good news is that purchasing a home with little to no money is definitely a possibility for certain home buyers. However, not everyone knows how to find a great home that requires no money down, or what they need to qualify for these programs.

How Can You Buy a Home With No Down Payment?

At Your Home Sold Guaranteed Realty – Phil Aitken Home Team, we believe home buyers have the right to be educated about home buying. That’s why we’ve created a library of free resources to help guide buyers, whether it’s their first time buying a home or they’ve been through the process before.

If you’re curious about buying a home with no down payment, we’ve created a guide to answer all your questions. You can download a free copy of “How to Buy a Home With Little Or No Money Down” by clicking on the button below. 

In this post, we’ll cover two main ways to buy a home with a small down payment or no down payment at all. But for more details, be sure to read the complete guide.

First-Time Home Buyers Programs 

The first way to buy a home with no down payment is through a government-sponsored program for first-time home buyers.

First-time home buyers usually get more assistance than any other type of buyer. 

This is because it’s harder for them to save up for a down payment while paying rent. At the same time, governments often want to incentivize people to become homeowners so they have a fair chance to benefit from homeownership and building equity.

So if you’re a first-time home buyer, be sure to ask your lender or mortgage broker what assistance programs are available to you. Also, visit several lenders and compare their deals to find the best option.

If you have a spouse who owns a home, it’s important to note that you may still qualify as a first-time home buyer as long as it’s your first time buying a house yourself. So even if you already live in a home with your spouse, you can still ask your lender if you qualify for a no money down program.

You can also ask your real estate agent in Jacksonville about what assistance you qualify for and whether they have any lender recommendations.

Home Loan Programs For Veterans

Veterans Affairs (VA) loans are another government-sponsored option for home buyers who have served in the military.

The exact requirements for a VA loan may depend on your state, so be sure to check with your lender. But typically, you must meet at least one of the following requirements:

  • 90 consecutive days of active service during wartime
  • 181 consecutive days of active service during peacetime
  • Served more than six years in the National Guard or Army Reserve 
  • Served at least 90 days under Title 32 orders, with at least 30 consecutive days.

Home buyers can also access VA loans if they were discharged from the military due to a disability or service-related injury.

In addition, military spouses are also eligible for these types of loans if their husband or wife passes away in the line of duty.

Of course, the amount of assistance you get will also depend on your financial situation, so be sure to discuss with a lender to see what your best options are.

We Can Help You Buy a Home With No Down Payment in Jacksonville

At Your Home Sold Guaranteed Realty – Phil Aitken Home Team, we have a network of recommended lenders that we work with. 

We can help connect you with a lender so that you get the best deal possible for your dream home in Jacksonville, Florida. Our team has been helping home buyers in the Jacksonville area for years, and we know we can do the same for you.

Your Home Sold Guaranteed Realty- has years of experience finding homes for sale with no money or little money down.

To learn more about buying a home in Jacksonville with our team, give us a call at (904) 544-5252 or fill out the form below.

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Phil Aitken, Owner/Broker
Phil Aitken is the Owner/Broker with Your Home Sold Guaranteed Realty - Phil Aitken Home Team and has over 13 years of Real Estate experience. Phil’s faith and desire for his family’s continued security fuel his business growth and leadership. The Phil Aitken Home Team continues to profoundly impact the people of Jacksonville via supporting several faith-based organizations. Phil gives back a portion of every real estate transaction to The Tim Tebow Foundation and Rethreaded. Find Phil's full story here.