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Are there mortgages that don't require a down payment?
Buyers Answers
Some lenders will finance 100% of your home purchase. Ask your REALTORŪ or representative for information, or contact the Virginia Housing Development Authority (VHDA) at (800) 227-VHDA. VHDA has several new programs for first-time homebuyers, as well as those purchasing their second or third home. Their Flexible Alternative Program allows up to 100% loan-to-value financing with no mortgage insurance, and their Flexible Alternative Step Program offers a starting mortgage rate that is reduced by 2% the first year and by 1% the second year and then fixed for years three through seven. The rate is reduced by .50% for years eight through 30.
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