Let’s take a look at down payment assistance; there are programs that will actually make the down payment for you:

There are different types of programs. Some which you will have to apply for separately and others that are part of the loan process.

However, like anything else, these programs are not free.

Although you may not have to put anything down, payment assistance programs typically have higher interest rates and higher fees than if you make the down payment yourself. It is typically in your best interest to save for the down payment.

There are loan programs out there for 3.5%, 3%, or even 1% down, and the down payment can be a gift from a relative. Bottom line, try to save a little for the down payment, and then pre-qualify for a loan.

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