You could offer to pay a higher overall price for the property, but pay it only through mortgage payments. You might ask to pay the down payment in instalments over the first year, or as a single payment, but a year into your mortgage. [1] X Research source Think carefully about the best deal for you, and be wary of getting tied into a high interest rate in lieu of a down payment.

The buyer will receive the title to the property in exchange for taking on the mortgage obligations. You will need to research the existing loan to ensure that there is no due-on-sale clause, which would stop a new buyer from assuming the mortgage. [2] X Research source Assuming a mortgage might be a possibility if the seller is unable to make the mortgage payments and wants to avoid foreclosure. [3] X Research source

These deals enable the buyer to live in the house and build up their credit rating and savings before making the purchase. A lease-option agreement is similar, but only includes an option to buy rather than an obligation. Be aware that these deals often end up having a higher overall cost than a traditional mortgage, and are sometimes associated with predatory lending. [5] X Research source

A seller might opt to do this if they have a number of properties. You may be able to negotiate a no money down deal with the seller if they are looking to defer the tax due on a large down payment. The seller may make a better return on interest payments from you than from putting the money in the bank. [6] X Research source

A property exchange can be a way to defer certain taxes related to gains from the sale of property. [8] X Trustworthy Source Internal Revenue Service U. S. government agency in charge of managing the Federal Tax Code Go to source

For some people, a cash payment may not be the most valuable offer. If the value of the thing you are exchanging is high, it might work out as a better deal for the seller than putting the cash payment in a bank account with low interest rates.

Often the interest rates and repayment terms on the loan will end up more expensive than saving up and making a down payment. Don’t be tempted into a high interest loan to cover a down payment as you are likely to put yourself in a precarious financial position.

To qualify you must have suitable credit and income, as well as obtaining a Certificate of Eligibility relating to your military record. To be eligible for a VA loan, your discharge must have been honorable, under honorable conditions, or general. If you have an other than honorable discharge or a bad conduct discharge, you may be subject to a review. The review will determine if you are given the loan or not. If you were dishonorably discharged, you do not qualify for this loan. You can use a VA loan to purchase a property with up to four one family units. If you buy a property with more units, however, you may need to get a commercial loan instead. [12] X Research source The minimum active service requirements vary, but can be viewed here: http://www. benefits. va. gov/homeloans/purchaseco_eligibility. asp

The program works in a similar way to the VA loan, but the funding fee is generally lower, at around 1. 75%. [13] X Research source There is no down payment required, fixed-rate terms are available, and no Private Mortgage Insurance is required. Loans are available up to $1,000,000 depending on the circumstances. [14] X Research source

Search for your area on the maps and see if there are any possibilities. The mortgage comes from a bank but is guaranteed by the USDA. There is a 2% initial guarantee fee, but this can be rolled into the loan. There is an annual guarantee fee of 0. 5% of the loan balance. [16] X Research source