If you’re dreaming of buying your first home but struggling to save up a down payment, you may be wondering: “Is there a house mortgage without deposit?” The good news is — yes , there are options available that allow you to buy a home with little or no upfront cash .
In this post, we’ll explore:
- Whether you can get a mortgage without a deposit
- Which loan programs offer zero-down options
- Who qualifies and what you need to apply
- Tips to help you become a homeowner even if you don’t have savings for a down payment
Let’s dive in.
Can You Get a House Mortgage Without a Deposit?
Yes — while most conventional mortgages require a down payment of at least 5–20% , there are specific government-backed loan programs that allow qualified buyers to purchase a home with no deposit or a very low down payment .
Here’s a quick overview:
| VA Loan | ✅0% | For veterans, active-duty service members, and some surviving spouses |
| USDA Loan | ✅0% | For buyers in eligible rural and suburban areas |
| FHA Loan | ✅3.5% | Low down payment, ideal for first-time buyers |
| Conventional Loan | ❌3–20% | Most lenders require a deposit |
| State/Local Assistance Programs | ✅0–5% | Varies by location and income level |
🎯 Key Tip : If you’re eligible for a VA or USDA loan , you can buy a house without a deposit — making homeownership more accessible than ever.
1. VA Loans – No Deposit for Military Homebuyers
Who It’s For:
Veterans, current service members, and certain surviving spouses.
Benefits:
- No deposit required
- No private mortgage insurance (PMI)
- Competitive interest rates
- Lenient credit score requirements
Eligibility Requirements:
- Meet minimum service requirements
- Obtain a Certificate of Eligibility (COE) from the VA
- Have stable income and meet lender guidelines
2. USDA Loans – Zero Deposit for Rural Buyers
Who It’s For:
Buyers looking to live in designated rural or suburban areas .
Benefits:
- Zero deposit needed
- Affordable fixed interest rates
- Low mortgage insurance fees
Eligibility Requirements:
- Must buy a home in a USDA-eligible area
- Meet household income limits (typically under $100,000/year)
- Use the home as your primary residence
3. FHA Loans – Low Deposit Option
While not completely no deposit , FHA loans allow you to buy a home with just 3.5% down , making them a great option if you have limited savings.
Best For:
- First-time homebuyers
- Buyers with lower credit scores (as low as 500–580)
Note: FHA loans require mortgage insurance premiums (MIP) for the life of the loan unless you put down 10% or more.
4. State and Local Down Payment Assistance
Many states and local governments offer down payment assistance programs that can help cover your deposit and closing costs.
These programs often work alongside:
- FHA loans
- Conventional loans
- USDA
Assistance comes in the form of:
- Grants (you don’t repay)
- Forgivable loans (no repayment if you stay long enough)
- Low-interest second mortgages
Check with your state housing finance agency to see what’s available where you plan to buy.
What You Need to Qualify for a Mortgage Without Deposit
To qualify for a zero-deposit mortgage , you typically need:
- Proof of eligibility (e.g., military service, location, income limits)
- Stable employment and income
- A minimum credit score (often around 620+)
- Debt-to-income ratio under 41–45%
- Willingness to occupy the home as your primary residence
Pros and Cons of Buying Without a Deposit
| ✅ No upfront savings required | ⚠️ Limited to specific buyer groups |
| ✅ Easier path to homeownership | ⚠️ May come with additional fees (e.g., VA funding fee, USDA guarantee fee) |
| ✅ Build equity faster with rising home prices | ⚠️ Lower equity at closing means less financial cushion |
| ✅ Avoid draining emergency funds | ⚠️ Some loans require mortgage insurance |
Final Thoughts
Yes, you can get a house mortgage without a deposit — especially if you’re eligible for a VA or USDA loan , or qualify for a state-sponsored down payment assistance program .
Buying a home with no deposit is a powerful way to start building wealth through real estate — without needing thousands in savings.
Before applying, check your eligibility, get pre-approved, and work with a lender experienced in zero-deposit mortgages.
Frequently Asked Questions (FAQs)
Q1: Is it possible to get a mortgage with no deposit?
Yes, through VA loans , USDA loans , or down payment assistance programs — depending on your situation and location.
Q2: Do banks offer mortgages with no down payment?
Most traditional banks do not, but they may offer VA or USDA loans — which allow zero down payments — to qualified borrowers.
Q3: Can I buy a house with no money out of pocket?
Yes, if you qualify for a VA or USDA loan and use seller concessions or assistance programs to cover closing costs.
Join The Discussion