According to Deidre Wolland from, "Best of Q&A: Can I Buy A Home Without a Down Payment?":

Q: I don’t have any money for down payment but want to buy a home.


I pay a lot in rent and have never been late. My credit is not so good in some areas. I was wondering if I can purchase a home.


A: Yes you can purchase a home. There are many different programs available for first time home buyers.


If you use an FHA loan it will require 3% down however you can barrow that or somebody can “gift” it to you to help with the down payment. There are also homes owned by Fannie Mae which are in a program called Home Path. These programs will often give intensives like giving you credit toward to closing costs, it all depends on the property. This is a great time to jump in the market and take advantage of low interest rates. But remember; buying a home can be very exciting, confusing and stressful at the same time. My advise is to talk to a lender you trust and work with a good Realtor that is patient and who will be there to help you through the process.


– Craig White, REALTOR® Prudential California Realty, Rodeo Realty


A: You will need at least 3% down for an FHA loan and yes you can purchase if you can save this amount.


It might be a good idea to meet with a good loan officer to discuss your options. I can refer you if you need help finding a loan officer.


As proven experts in St. Louis county real estate, a Prudential Select Properties realtor can help find your first home.  Spring consultations are available right now; in addition, buyers are welcome to attend St Louis open houses or other neighborhoods in the area. For more information, contact a local Prudential Select Properties realtor by calling (866) 640-6397 or by visiting

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