How to Achieve Home Ownership With Virtually $0 Out of Pocket
Stack gifts, grants, DPA, and seller credits to cover down payment and closing costs.
As of August 2025Quick breakdown of the programs, a reference limits table, and a calculator to see if you can fully cover cash to close.
Understanding the Programs
HomeReady® (Fannie Mae)
- 3% down for 1-unit primary homes.
- No minimum borrower contribution; 100% of funds can be gifts/DPA/grants/Community Seconds®.
- Income limit: ~80% AMI.
Home Possible® (Freddie Mac)
- 3% down for 1-unit primary homes.
- Gifts, DPA, grants, Affordable Seconds®, sweat equity allowed.
- Seller credits permitted (limits vary).
Hometown Heroes (Florida)
- Up to 5% of first mortgage (min $10k / max $35k) as a 0% deferred second.
- Eligibility: full-time FL employee in eligible occupation; first-time buyer (vets exempt); 640+ credit; county AMI caps.
- Works with FHA, VA, USDA, and conventional (HomeReady/Home Possible).
Program Limits (Reference)
| Program | Minimum Loan | Max Loan (Most) | Max Loan (High-Cost) | Est. Max Purchase* |
|---|---|---|---|---|
| HomeReady | None (lender-dependent) | $806,500 | $1,209,750 | ~$830,928 @ 3% / ~$1,247,165 |
| Home Possible | None (lender-dependent) | $806,500 | $1,209,750 | ~$830,928 @ 3% / ~$1,247,165 |
| Hometown Heroes (FL) | None (min assist $10k) | $806,500 | $1,209,750 | ~$700,000 for full $35k @5% |
| *Estimates vary by county, program, AMI, and loan type. | ||||
Zero Down Calculator
Estimate your out-of-pocket needs and how much assistance gets you to $0.
Pro tip: Shortfall? Explore additional DPA or negotiate seller credits.
“I am interested in purchasing a home, please contact me.”
Contact Person: Carlyne Belot, Real Estate Sales Associate at Luxury Property Solutions, LLC.
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Disclaimer: Educational information based on guidelines as of August 2025. Programs and limits vary by county and lender. We are not a lender; this is not a loan pre-approval.