Is it even possible to purchase a house without a downpayment anymore?

The only true mortgage loan with no down payment is, the veteran mortgage loan, you would have have been a U.S. military veteran, active duty, retired or served time in the military and is eligible for this veteran benefit. You might be required to pay for insurance and taxes.

The other mortgage loan that even come close to a no down payment mortgage loan is an FHA mortgage loan where you would normally be required to pay 3.5% down, FHA has a program where you could qualify for a mortgage loan with 1% down.that 1% could be a loan that you would not have to repay, based on your qualifications.

You would need to contact a mortgage lender that is authorize to do FHA mortgage loan. Ask about this mortgage loan program through FHA and see if you would qualify. The most you would have to pay down if you are unable to qualify for this mortgage loan is 3.5% of which this could be a gift to you from a relative, charity, or church.

I hope this has been of some benefit to you,good luck.

"FIGHT ON"

Those days are long gone, and I do mean l-o-n-g gone. If you do not have 20% cash down these days, expect not only the high costs of PMI, but higher interest rates, and possibly severe chance of turndown on mortgage even if your credit is good. Officially, minimum down is 3.5%, but those deals are not being done, and if they were, you would not want it since it leaves you far too vulnerable to major disaster.

No down = no buy. Hope you have saved up enough for deposits so you can rent.

Those days are long gone.

Thank goodness.

For income to qualify now you also need 2 years of solid employment (no gaps).

And you need good credit.

VA or USDA loans can be had with no down. Chances are you won't qualify for either.