Back to Glossary
Zero Down Mortgage
Updated
January 19, 2023
As the name implies, a zero-down mortgage is a house loan that does not need a down payment. A down payment is an initial payment you make toward purchasing a property, and it is due when the loan is closed. Down payments are often calculated as a percentage of the total amount borrowed by lenders. Only a government-backed loan will allow you to obtain a mortgage with no down payment. The federal government insures government-backed loans. In other words, if you stop paying your mortgage, the government (not your lender) foots the tab.
No items found.
Related Topics
10 Best Home Builders in Nashville, TN: Find Your Dream Home Today
Wesley Mortgage 2023 Year-In-Review
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?