Charlie MacPherson's Blog

Can I really buy a house with NO down payment?

The short answer is "probably yes", especially if you can be flexible about which towns you will live in.

We have access to two government loan programs and one from a local mortgage lender.

The first is from a local lender, Shamrock Financial, who has a No Down Payment loan for any buyer with a credit score of 740 or above.  

The second is for our military veterans and can be used anywhere in the state - and thank you, veterans for the service you've given to our beloved country!

The third is for less densely populated areas and can be used by both veterans and non-veterans alike.  It is administered by the USDA and requires a credit score of 620 or higher.

No, I don't have any idea why the US Department of Agriculture writes home loans, but if we can use it to help you to buy a home, why not?

Some of the towns south of Boston eligible for the USDA $0 down program are:

Pembroke, Kingston, Duxbury, Halifax, Hanson, Bridgewater, East and West Bridgewater, Carver, Plympton, Middleboro, Easton, Lakeville, Norton, Wareham, Freetown, Rochester, Marion, Mattapoisett, Dartmouth, Westport, Dighton, Rehoboth, Wrentham, Foxboro, Franklin, Bellingham, Medway, Millis, Medfield and Mansfield.  These, of course, are subject to change.

What if your credit score is below 620?

Well, we have two options.  First, you might consider an FHA loan.  It requires a credit score of 580 or higher, but also requires a 3.5% down payment.  

Second, we can refer you to resources for raising your credit score.  One client we recently referred saw his credit score increase by 90 points in 6 weeks!

So yes, you probably can get a "no down payment" loan.  And if not now, we can get you on the right track to get one soon!

Call any time and we'll get the ball rolling!


Charlie MacPherson
Direct: 781-470-9111
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Clear Sailing Realty
185 Black Cat Rd
Plymouth, MA 02360
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