Skip to content

Zero Down Mortgage
Zero down mortgage. No down payment home loan.
Save money with a zero down mortgage!

GENERAL INQUIRY | ZERO DOWN MORTGAGE

Don't have time talk? No problem! Complete the form and Fortress will email the answers to your zero down mortgage questions when you are ready to go!
  • This field is for validation purposes and should be left unchanged.

Zero Down Mortgage | Highlights

Calculator worksheet.  

Zero down options.  

Free consultation. 

Forgivable DPA.

620 FICO.

No App Fee! 

Mortgage Calculator Worksheet


Enter your email address and receive a free summary worksheet!

$

5%

1%

5%

0%

$
$

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

Monthly PMI $0

Worksheet Summary | Highlights

Down payment.
Find out how much of a down payment is right for you.

Closing costs.
Review the out of pocket expense for your transaction.

Custom tailored for you.
By far, our summary is uniquely distinguishable.

Zero Down Mortgage | Consultation
Schedule your free zero down mortgage consult today!

AFFORDABILITY

We figure out your maximum buying power!

CALCULATION

We crunch all of the numbers for you!

SIMPLICITY

Our mortgage worksheet summary is easy to understand!


Zero Down Mortgage Required Documentation

Conventional mortgage financing. Required documentation to apply.1.  W2’s (most recent two years)
2.  Two months of bank statements (all pages).
3.  Copy of your current driver’s license

On paper the process is extremely simple.  Essentially, all that a borrower needs to begin the underwriting process are the above docs.  All in all, these are the items to start your mortgage journey!

What Is a Zero Down Mortgage?

A zero down mortgage is exactly as it sounds.  Specifically, it eliminates the need for a down payment when buying a new home. It is important to realize that, in some cases, there is indeed a down payment.  Correspondingly, in other scenarios there is truly no down payment requirement. 

Fortress Home Mortgage offers a variety of zero down mortgage products.  As a result, we will identify each one.  Now, lets figure out how to save money when closing on your new first home!  Click here to schedule your free zero down mortgage consultation.

Zero Down Loan Options

Option #1:  MI First Time Home Buyer

MI first time home buyer; no money down Without a doubt, our MI first time home buyer program is the most popular zero down mortgage program.  In particular, Fortress Home Mortgage works directly with the lender to secure the DPA loan.  The DPA loan uses 5% of the sale price.  In fact, a portion of the 5% can be applied toward the closing costs.  Above all, no special status needed, or subject property requirement.  For example, you do not need to be a military veteran (VA), nor does the subject property need to be specifically zoned (USDA rural).  Click here to learn more about the MI first time home buyer program. 

MSHDA loanMSHDA loans are an offshoot of zero down home loan programs.  Conversely, the MSHDA loan has more hoops to jump through.  First, it involves the state of Michigan.  In other words, there is more red tape tied into the mortgage.  Secondly, you must work with a “MSHDA lender.” For this reason and others, the MSHDA loan can be difficult.  Ultimately, it dramatically shrinks the pool of available mortgage loan officers that can help you.     

Option #2:  VA Loan

VA loan; fortress home mortgageThe federal government offers the VA loan, and likewise it is a true zero down mortgage.  However, in order to qualify one must be a military veteran.  Click here for more information on VA loans.

Option #3:  USDA Rural Loan

USDA rural mortgageThe USDA rural loan is a true zero down mortgage product.  Similarly, certain thresholds must be met. Specifically, the subject property must be zoned in an eligible area. Click here for more information on USDA rural financing. 

zero down mortgage; zero down mortgage calculator; fortress home mortgageIt is important to realize that the zero down mortgage (down payment assistance loan), has two main criteria for qualifying credit scores.  First, the borrower must select whether or not the down payment assistance loan will be forgivable or repayable.  In other words, the down payment loan can either be paid back on a monthly basis (repayable), or it can be waived entirely (forgivable).  Furthermore, the minimum FICO score requirement will be based on the selection.  For example, forgivable down payment assistance mortgages have a minimum score of 620, while repayable down payment assistance mortgages have a minimum score of 680.  In short, we highly recommend scheduling a free zero down mortgage consultation with John Sarkisian.  Ultimately, John will provide you with the details on all things related to the down payment assistance program! 

zero down mortgage; zero down mortgage calculator; fortress home mortgageIt is important to understand the nature of down payment assistance.  Specifically, how is the DPA structured?  For example, the DPA may be repaid on an amortized schedule.  This is also known as a "repayable" DPA.  In other words, the amount of the DPA is paid with interest.  Once satisfied, the DPA is discharged in full.  Furthermore, the DPA can be silent.  This is also known as a "forgivable" DPA.  In this instance, there are no repayment terms.  The DPA loan is recorded on title.  It becomes 100% forgivable after 5 years.  However, if the home is sold, or the mortgage refinanced, then the DPA must be paid in full.  In short, we highly recommend scheduling a free zero down mortgage consultation with John Sarkisian.  Ultimately, John will provide you with the details on all things related to the down payment assistance program! 

Back To Top