So, how does a zero down payment mortgage work? Essentially, you’ll be borrowing the entire purchase price of your home, without the need to put down any money upfront. While this may seem too good to be true, there are some requirements you’ll need to meet to qualify for this type of mortgage.
First and foremost, you’ll need to have a good credit score and a stable source of income. Lenders want to ensure that you’re able to make your mortgage payments on time, and having a solid financial track record can increase your chances of approval.