For today’s home buyers with good credit and a steady income, there are several no down payment mortgage programs available which offer 100% financing for purchase so you can buy a home or even refinance.  GMFS Mortgage can explain your options for how to buy your first home with no money down and determine if a no down payment mortgage is right for you.

100% Financing Home Loan Options

USDA Rural Development Loan

  • Per the USDA, GMFS Mortgage has been the #1 USDA Rural Development lender in Louisiana for both 2015 and 2016
  • USDA Rural Development is typically the best home loan option for first time buyers that are not military veterans, assuming the property is in an eligible rural area
  • Can be used to purchase your primary residence or refinance for rate term

Learn more about USDA Rural Development Loans

VA Loan for U.S. Veterans

  • GMFS Mortgage offers reduced fees to U.S. military veterans for VA loans
  • VA loans are typically the best loan option for first time home buyers if one of the borrowers is a veteran
  • Can be used to purchase a house for your primary residence, as well as, to refinance for cashout

Learn more about VA Loans

Purchase Advantage powered by CAFA

  • A unique program to jump-start Louisiana homeownership through the benefit of a non-repayable homebuyers grant of up to 4% of the original mortgage amount
  • The non-repayable grant is provided by Capital Area Finance Authority (CAFA)
  • Eligible for primary residence only and only in approved Louisiana parishes

Learn more about Purchase Advantage

Questions About Qualifying for Home Ownership?

  • Wondering if you're qualified to become a homeowner?

    A: There are a range of home loan programs with varying minimum qualifications and features such as low to zero minimum down payment. Depending on your goals, you more than likely qualify for at least one of the home purchase products.  If not, our skilled Loan Officers can help you with a game plan to get qualified in the near future.  You are probably closer than you think. Get Started with a free, no obligation consultation with an experienced GMFS Mortgage Loan Officer.
  • Concerned about your credit score?

    A: Your credit score is one of the key factors in determining what type of mortgage and interest rate you qualify for. Of course, the higher your score the lower rate and more options that you may have.  However, there are lots of programs available where lower credits scores are acceptable and you can accomplish your dream of home ownership.  Some of these options even offer very little or no down payment.   You are entitled to order a free copy of your credit report every 12 months from each of the major credit reporting agencies (Equifax, Experian, and TransUnion) through This site is the only one that is government authorized to provide you with FREE copies of your credit report. Dispute any errors on your credit report and get them resolved as quickly as possible. Also, do not open any new accounts within at least six months of applying for a mortgage. For more tips about building or improving your credit, Get Started with GMFS Mortgage.
  • Concerned about saving for your down payment?

    A: Several home loan programs now have minimum down payment options ranging from 0%-3% of your loan amount. Keep in mind, the total cost of your financing decreases as your down payment amount increases. That being said, there are circumstances when the lower down payment options make sense as well. Your GMFS Mortgage Loan Officer can review the best options for your situation and also let you know if there are any homebuyer assistance programs featuring non-repayable grants, available in your area that you qualify for. Get Started
  • How does student loan debt affect your ability to become a homeowner?

    A: Having student loan debt does not automatically preclude you from qualifying for a home loan. As with any financing, your Debt-to-Income (DTI) Ratio is a significant factor in qualifying for a loan. Certain home loan programs weigh student loan debt differently when calculating your DTI. Your GMFS Mortgage Loan Officer can review the best options for your situation. Get Started

Wondering how to purchase a home with no money down, using 100 percent home financing?
Ready to apply OR request a free consultation for a 0 down payment mortgage?

Start Application

Contact a GMFS Mortgage Loan Officer to Get Started!

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