100% Financing in Michigan with a Zero Down Mortgage
Buying a home with no down payment is possible for eligible buyers through two government-backed programs: VA loans for eligible veterans and active-duty military, and USDA loans for eligible buyers purchasing in qualifying rural areas. Both can be paired with a 30 Year Fixed Mortgage or a 15 Year Fixed Mortgage, and neither requires private mortgage insurance (PMI).
If you don't qualify for VA or USDA financing, you may still be able to buy with little cash out of pocket through low-down-payment loans combined with down payment assistance. For more information on zero-down and low-down-payment options with Riverbank Finance LLC, call us at 800-555-2098 or apply online today!
Reasons to use a Michigan Zero Down Mortgage
- No down payment required for eligible VA and USDA borrowers
- Closing costs may be paid by sellers
- Non-Occupying Co-Borrowers may be allowed on some programs
- More flexible credit score requirements than some conventional options
- Keep more of your savings on hand for moving and emergency costs
Get Your Free Mortgage Quote
Answer a few quick questions and a licensed Michigan loan officer will follow up with your personalized quote — no obligation.
By clicking “Submit”, you consent to receive calls and texts at the number you provided, including marketing by autodialer and prerecorded and artificial voice, and email, from Riverbank Finance LLC about your inquiry and other home-related matters, but not as a condition of any purchase; this applies regardless of whether you check, or leave un-checked, any box above. You also agree to our Privacy Policy and Terms of Use regarding the information relating to you. Msg/data rates may apply. This consent applies even if you are on a corporate, state or national Do Not Call list. This no obligation inquiry does not constitute a mortgage application. To apply now or get immediate assistance, call us at 1-800-555-2098.
What types of Mortgages can I get without money down?
Zero Down Home Loan Options
Most zero-down financing is available through two government-backed loan programs. Eligibility depends on your service history or the property's location, so it's worth a call to see which option fits your situation.
Michigan VA Home Loans
Loans for eligible veterans and active-duty military can be used to purchase a home with no down payment, and sellers may be able to contribute toward closing costs. We proudly serve our military veterans with flexible VA guidelines.
Michigan USDA Rural Development Program
Buying a home in a qualifying rural area? You may be able to get 100% financing through the USDA Rural Housing program, which is subject to property location and household income limits. Like a VA loan, USDA financing allows for no down payment, and sellers can contribute toward closing costs. A USDA loan can be a great option for first time home buyers in an eligible area.
Down Payment Assistance Programs
If you don't qualify for VA or USDA financing, down payment assistance programs can reduce the cash you need out of pocket. Speak with one of our licensed loan officers to review your eligibility.
Zero Down Mortgage FAQ
Can anyone qualify for a zero-down mortgage?
No. True zero-down financing is limited to eligible VA borrowers (veterans and active-duty military) and USDA borrowers purchasing in qualifying rural areas with household income under program limits. Other buyers can still reduce their upfront cost using low-down-payment loans and down payment assistance programs.
Do zero-down loans require mortgage insurance?
VA loans do not require monthly PMI, though they include a VA funding fee in most cases. USDA loans include an upfront and annual guarantee fee rather than traditional PMI. A loan officer can walk you through the specific costs for your scenario.
Ready to buy with zero down?
Submit your information now and a licensed residential loan officer will contact you within 24 hours. If you need immediate assistance then please call us now at 800-555-2098!
Apply Now 800-555-2098