How to Buy a Home With No Money Down

Young blond haired woman being hugged from behind by red-haired  young man in their new home

Tired of throwing away your hard-earned money on rent each month? Want to buy a new home but don't have the funds for a down payment? Look no further than Hanscom Federal Credit Union's No-Money-Down Mortgage, where it's, "No down payment? No problem!"

We know homeownership can feel out of reach, especially when it comes to finding a hefty down payment. But with our 30-year 7/1 Adjustable Rate Mortgage with Zero Down Payment, you can purchase a single-family home or condo in any of the six New England states, Virginia, Maryland, or Washington, DC.

For the first seven years of your loan, you'll have an initial fixed interest rate before it adjusts no more than 1% each year with a cap of 5% over the life of the loan. Most first-time homeowners either refinance or move within the first seven years, so chances of worrying about the rate change are lower.

The catch? You'll need strong credit and a debt-to-income ratio of 43%, and private mortgage insurance (PMI) will be required. But, you don't need to be a first-time homebuyer, and you can own a home in the last three years.

This limited-time offer is only available to Hanscom FCU members, and you will need to open an account with us before closing. You'll need two months of mortgage payments in reserve at closing, which must be from your own saved funds, plus have a minimum credit score of 700

Learn more about our No-Money-Down Mortgage, as well as other mortgages we offer, in three convenient ways:

  • Contact our Mortgage Department at 800-656-4328 during regular business hours.
  • Drop by one of our upcoming free table events at a branch local to you, where one of our friendly Community Mortgage Loan Officers can answer your questions
  • Learn more about buying a home in today's market in our hour-long "Homebuying in 2023 and Beyond" online seminars.

Ready to invest in your future instead of your landlord's? We're ready to help you make that happen. Contact us today!

Learn More About Our No-Money-Down Mortgage


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Hanscom Federal Credit Union
Hanscom Federal Credit Union

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