How to Buy With Nothing Down

In current day and age, there are many things that can be purchased on credit. These products are paid off in instalments and it makes it a touch easier to own something that is otherwise out of one’s reach. There is however always a decent amount that needs to be paid at the start, known as the down payment. This can vary, and in some cases, can be a significant amount of the total price. However, there are ways in which you can make the purchases with zero down. It is not possible every time, but if you make your credit purchases carefully, it can happen quite often.


  • 1

    Great Credit Score

    The first step in this direction is to have a great credit score. Even if you have a near 700 score, it may not be enough. You need to have a score in excess of seven hundred and the higher it goes, the better are your chances of getting a zero down deal. Some people actually have credit scores in excess of 800 and enjoy such deals quite often.

  • 2

    Credit History

    Making timely payments for a single year can get your score in excess of seven hundred, but that may not be enough. You must also have a reasonably long credit history to stake your claim. Three to four years are a minimum to gain the trust of the lenders for zero down options. If there are no red tapes on your credit profile, a good score and a sound history will make your case very strong.

  • 3

    Special Offers

    There are offers available every now and again which allow special customers to enjoy some privileges, including the zero down payment options. Not everyone can benefit from these chances but if you have a fantastic credit score and a consistent credit history, you can very well qualify.

  • 4

    Wrap Financing

    Wrap financing is a cross between a mortgage and personal financing. It is done when there is a part of mortgage still left. Personal financing is offered by the seller who takes care of the rest of the original mortgage. This is a very useful option when avoiding down payments.

  • 5

    Loan Assumption

    It is an option of assuming someone else’s loan as your own. The option is available on home mortgages only. Not all home mortgages offer this service but there are certain which have a clause placed in them which are getting very rare. You will simply take over the remaining loan from the original buyer. The amount that will need to be paid to the original owner will have to be worked out and often attorneys dealing in the particular field take care of the terms of settlement.

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