How to Buy a Home with No Money Down

Dreaming of homeownership but worried about the hefty down payment? You’re not alone. Many potential homebuyers in Utah and Salt Lake Counties share this concern. Fortunately, viable options exist for buying a home with no money down. At Seasons Real Estate, we guide you through the process and help you find the best path to owning your dream home. Let’s explore the main options available to you.

Utah Housing Programs

Utah Housing Corporation offers several loan programs designed to help first-time and repeat homebuyers. These programs provide opportunities to purchase a home with no money down.

  • FirstHome and HomeAgain Programs: These loans offer down payment assistance, enabling you to cover your down payment and some closing costs. You can pay off the assistance gradually through a second mortgage.
  • Score Loan Program: This program helps buyers with lower credit scores by providing down payment assistance and flexible qualifying criteria.

First-Time Home Buyer Grant for New Construction

If you’re a first-time homebuyer looking to purchase new construction, an exciting grant program is available.

  • $20,000 Loan Assistance: This grant offers a $20,000 loan to help with your home purchase. While you must repay the loan upon selling the home, you won’t have monthly payments, making it a very attractive option for minimizing upfront costs.

Portfolio Loans from Partner Lenders

Seasons Real Estate works with several lenders offering portfolio loans, which can be an excellent option for buying a home with no money down. These loans come with unique benefits:

  • No Mortgage Insurance: Unlike traditional loans, portfolio loans often do not require mortgage insurance, saving you a significant amount of money each month.
  • Flexible Terms: These loans are held by the lender rather than being sold on the secondary market, allowing for more flexible qualifying criteria and personalized loan terms.

Closing Costs and Additional Expenses

Even with no money down, other costs are associated with buying a home:

  • Closing Costs: These include fees for processing your loan, title insurance, and other administrative expenses. However, in today’s market, sellers often agree to cover some or all of these costs as part of the negotiation process.
  • Inspection and Appraisal Costs: These costs ensure the home’s condition and value, but you can sometimes negotiate them with the seller.
  • Repairs: Sellers often make repairs or offer credits for necessary fixes, especially in a competitive market.

Strategic Home Buying

Your home buying strategy plays a crucial role in successfully purchasing a home with no money down. Here are a few tips to enhance your strategy:

  1. Work with Experienced Real Estate Agents: At Seasons Real Estate, our team has extensive experience in negotiating deals that include seller-paid closing costs and repairs.
  2. Get Pre-Approved: Pre-approval strengthens your offer and shows sellers that you’re a serious and qualified buyer.
  3. Stay Informed: Understanding the current market conditions and available programs will help you make informed decisions and seize the right opportunities.


Buying a home with no money down is possible, especially with the right resources and support. Programs like Utah Housing loans, first-time homebuyer grants, and portfolio loans from our trusted lenders make homeownership accessible to more people. While you need to budget for closing costs, inspections, and appraisals, strategic negotiation can help mitigate these expenses.

At Seasons Real Estate, we commit to helping you achieve your homeownership dreams. Contact us today to learn more about your options and start your journey to owning a home in Utah or Salt Lake Counties. Let us guide you every step of the way to ensure a smooth and successful home buying experience.

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