Luxury living is within reach, even without a down payment. A variety of 100% financing programs, including government-backed options like USDA and VA loans, are available to help both first-time and experienced buyers achieve their luxury homeownership goals.
Key Advantages:
- No Down Payment: Say goodbye to the need for a large upfront payment.
- Government-Backed Security: Enjoy the peace of mind and potential for lower interest rates that come with government-sponsored loans.
- Eligibility: Explore the specific requirements to see if these programs are a good fit for you.
While a down payment isn’t required, remember that closing costs still apply. A knowledgeable mortgage professional can guide you through the various programs and help you find the perfect path to your dream luxury property.
Start your journey by browsing a selection of properties that may qualify for 100% financing, conveniently located towards the end of this page.
We have partnerships with mortgage brokers and lenders to simplify your financing process. Also, consider exploring our Principal Paydown Program – it’s designed to accelerate your mortgage payoff timeline.
All of the mentioned options – VA loans, USDA loans, and FHA loans – allow realtors to use their commissions, gift of equity, or gift of funds to help buyers pay closing costs.
- VA Loans: Allow sellers or real estate agents to contribute up to 4% of the loan amount towards the buyer’s closing costs.
- USDA Loans: Allow sellers to pay closing costs, and agents can also contribute through gift funds.
- FHA Loans: Permit sellers to contribute up to 6% of the sales price towards the buyer’s closing costs. Agents can also contribute using gift funds.
Important Considerations:
- Gift of Equity: A gift of equity involves the seller reducing the home’s sale price by the amount of the gift, effectively lowering the buyer’s closing costs.
- Gift Funds: Gift funds must come from an acceptable source, such as a family member, and proper documentation is required.
- Lender Approval: Any contributions towards closing costs typically need approval from the lender.
It’s crucial to consult with a knowledgeable real estate agent and mortgage lender to determine the best approach for utilizing commissions, gift of equity, or gift funds to cover closing costs, ensuring compliance with all relevant regulations and guidelines.
The credit score and debt-to-income (DTI) ratio requirements for 100% financing vary depending on the specific loan program:
USDA Loans:
- Credit Score: Typically a minimum credit score of 640 is required, but some lenders may accept lower scores with compensating factors.
- DTI: The maximum DTI ratio is usually 41%, but it can be higher in some cases with compensating factors.
VA Loans:
- Credit Score: There is no minimum credit score requirement set by the VA, but lenders typically prefer a score of at least 620.
- DTI: The VA doesn’t set a specific DTI limit, but lenders typically look for a DTI of 41% or lower. However, higher DTIs may be allowed with strong compensating factors.
Other 100% Financing Options (like physician loans):
- Credit Score: Usually a minimum credit score of 680 or higher is required.
- DTI: The DTI requirements vary by lender, but a DTI of 45% or lower is generally preferred.
Remember: These are just general guidelines, and the specific requirements can vary depending on the lender and your individual financial situation. It’s always best to consult with a mortgage lender to determine your eligibility for 100% financing and the specific requirements for the loan program you’re interested in.
FHA Loan Requirements (2025 Update)
Key Guidelines for FHA-Insured Mortgages
The Federal Housing Administration (FHA) continues to facilitate homeownership by insuring loans made by FHA-approved lenders. Since its inception in 1934, FHA has become the largest insurer of U.S. residential mortgages—covering both single-family and multi-family properties nationwide (including U.S. territories).
Below are the core requirements effective for 2025:
Credit Score & Down Payment
FICO® ≥ 580 — Minimum 3.5% down payment.
FICO® 500–579 — Minimum 10% down payment.
Scores below 500 are not eligible for FHA financing.
Mortgage Insurance Premiums (MIP)
Upfront MIP: 1.75% of the base loan amount, financed into the loan at closing.
Annual MIP: Charged monthly; rates vary by loan term, loan-to-value (LTV) and loan size (typically 0.45%–1.05% annually).
Debt-to-Income (DTI) Ratios
Standard DTI Ceiling: Total DTI ≤ 43% of gross monthly income.
Exceptions Up to 57%: Lenders may allow DTI up to 57% with strong compensating factors (e.g., significant cash reserves, minimal payment shock).
Occupancy Requirement
The property must be the borrower’s primary residence and occupied within 60 days of loan closing.
Employment & Income
Stable Income History: Demonstrated through at least two years of steady employment (documented via W-2s, pay stubs, tax returns).
Proof of Funds: Verification of ability to cover down payment, closing costs, and at least 1–2 months of reserves.
Additional Eligibility Points
Valid Social Security Number and lawful U.S. residency.
Property Standards: The home must meet FHA’s minimum property standards for safety, security, and soundness (appraised by an FHA-approved appraiser).
Loan Limits: 2025 FHA county loan limits apply—check the latest HUD release for your location.
By following these updated FHA guidelines, borrowers in 2025 can better plan their path to homeownership with clarity on credit, down payment, insurance premiums, and income requirements.
Below are the updated 2025 loan limits for Conforming (Fannie Mae/Freddie Mac), FHA, VA and HECM mortgages in Broward County, Miami-Dade County and Palm Beach County, FL, broken out by housing type.
Broward County, FL
| Housing Type | Conforming | FHA Loan Limit | VA Loan Limit | HECM Limit |
|---|---|---|---|---|
| 1-Unit (Single-Family) | $806 500 | $654 350 | $806 500 (matches Conforming) | $1 209 750 |
| 2-Unit (Duplex) | $1 032 650 | $837 700 | $1 032 650 | $1 209 750 |
| 3-Unit | $1 248 150 | $1 012 550 | $1 248 150 | $1 209 750 |
| 4-Unit | $1 551 250 | $1 258 400 | $1 551 250 | $1 209 750 |
Properties with 100% Financing Possible
Conforming loan limit: $806,500
Home size: Single-Family
Contact us for the following property types.
Conforming loan limit: $981,500
Home size: 2 Duplex (Residential Income)
Conforming loan limit: $1,186,350
Home size: 3 Triplex
Conforming loan limit: $1,474,400
Home size: 4 Quadplex
FHA Loan Limits
FHA Loans are home mortgages insured by the Federal Housing Administration. FHA Loans let you get a home loan with a lower down-payment and relaxed credit score requirements.
Conforming loan limit: $806,500
Home size:1 Single-Family
Contact us for the following property types.
Conforming loan limit: $806,500
Home size: 2 Duplex
Conforming loan limit: $1,248,150
Home size: 3 Triplex
Conforming loan limit: $1,551,250
Home size: 4 Quadplex
VA Loan Limits
If you qualify, veterans loans allow you to buy a house with zero money down.
Conforming loan limit: $806,500
All Home Sizes
HECM Loan Limits
Home Equity Conversion Mortgages (HECM) allow seniors to convert home equity into cash for unexpected expenses.
Conforming loan limit: $1,209,750
All Home Sizes
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