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No Down Payment Home Loan Options

If you’re wondering how to buy a house without a large down payment, Royal Credit Union has options! If you’re a first-time home buyer or would like to upgrade from your current home, our mortgage lending team can help. We’re here to open the door to your new home without needing a big down payment. Here’s a look at some popular options.

Zero Down Mortgage Option

Our zero down payment mortgage program can help home buyers reach their dreams with a no money down mortgage. This option is a 10/1 adjustable rate mortgage.


  • Buyers can finance the entire purchase price of a property.
  • Buyers can purchase a home sooner, without saving for months or years for a large down payment.
  • Unlike many no down payment and low down payment options, Royal’s zero down payment program does not have income limits.
  • The zero down payment program is available to first-time or repeat home buyers.


  • To take advantage of this mortgage option, buyers will need to have good-to-excellent credit scores.
  • Interest rates for the zero down payment program may be higher for some buyers.

3% Down Payment Options

Royal also offers a variety of home mortgage options that let home buyers make just a 3% down payment. Most of these 3% down programs allow buyers to choose a traditional fixed-rate mortgage.


  • Some programs have relaxed credit requirements, allowing buyers with fair credit to get a loan without a large down payment.
  • Buyers with good-to-excellent credit may be able to skip Private Mortgage Insurance.
  • Many 3% down programs allow gifts from family to be used for the down payment.
  • Some programs are available to first-time and repeat buyers.
  • Like zero down payment options, buyers can purchase their home sooner, without saving a large down payment.


  • Income limits may apply, so buyers with high incomes may not be eligible.
  • Like zero down payment options, interest rates for 3% down payment programs may be higher for some buyers.

In addition to the points above, certain 3% down home loan programs require that buyers participate in an educational course about home ownership. The course explains home loan concepts to buyers and helps them prepare for owning a home.

Ask Us About Our No Down Payment Options Today

Royal Credit Union’s mortgage loan team are experts at finding the right home loan for every buyer. With our no down payment or low down payment home mortgage options, we’re able to help more people than ever own a home. Even if you can’t afford a big down payment, we have programs that can work for you.

We love working with home buyers to match their home mortgage to their needs. Because we’re a Member-owned credit union, we take pride in providing everyone with the best possible solutions for their situation. When you work with Royal, we’ll ask you questions and provide honest advice about the options available. We’ll also make sure you understand the home buying process and give you as much help as you need to get from pre-approval to closing. That’s part of the reason why so many Royal Credit Union Members say they won’t get a home loan anywhere else. And that’s definitely why people believe us when we explain our core purpose is to create a positive impact in the lives we touch.

Please reach out to our mortgage loan team today to explore your home buying options. Our no down payment home loans and low down payment home loans can help buyers open the door to owning their own home!