Zero Down Payment Mortgage: CCM ZeroDown
A zero down payment mortgage allows for the financing of the entire home purchase price. CCM ZeroDown makes that possible by combining an FHA loan with 3.5% or 5% down payment assistance.
You can put down $0 and potentially cover some of your closing costs too, so you could stop waiting years to build savings and start building equity in a home instead.
Buy a home with absolutely no money down
One-fifth of aspiring homeowners doubt that saving for a down payment is even achievable.* CCM ZeroDown helps remove that barrier. This no-down-payment home option pairs an FHA first mortgage with a repayable second lien that covers your down payment. That means qualified borrowers can move into an eligible home sooner — without draining their savings or relying on gift funds from a family member.
Why you’ll love CCM ZeroDown
- No down payment required — Keep your cash for moving, furniture and unexpected costs. No-down-payment home loans eliminate upfront costs of homeownership, freeing up more cash when you need it most.
- Fast path to homeownership — Zero down payment mortgages can help buyers purchase a home sooner without saving for a large down payment. This can create the opportunity to stop renting while home prices rise and start owning now.
- Flexible property options — Works for single-family homes, condos, 2-4-unit multi-family properties and manufactured homes, giving you real choices across property types.
- Open to all qualified buyers — Available for both first-time homebuyers and repeat buyers, unlike many down payment assistance programs that restrict eligibility.
- Predictable payments — Both your first mortgage and second lien carry fixed interest rates, so you can plan your monthly mortgage payments with confidence from day one.
What makes CCM ZeroDown different
CCM ZeroDown is built differently:
- Combines FHA financing with down payment assistance — An innovative structure that pairs a Federal Housing Administration-insured first mortgage with a 3.5% or 5% second lien, giving you a clear and transparent path to financing the entire purchase price of the home.
- Broader property eligibility — Covers single-family homes, condos, 2-4-unit properties and manufactured homes.
- Accessible credit requirements — With the same, more flexible credit requirements of an FHA loan, this program opens more doors for more borrowers.
How CCM ZeroDown works
1. Get pre-approved
Connect with a CrossCountry Mortgage loan officer to review your income, credit score and debt-to-income ratio. You’ll answer a few quick questions to determine if you qualify, then you can shop with confidence.
2. Find your home
Work with your real estate agent to find an eligible primary residence — whether that’s a single-family home, condo, 2-4-unit property or manufactured home.
3. Close with confidence
Finalize your FHA mortgage loan paired with 3.5% or 5% down payment assistance structured as a second lien. Your actual payment obligation begins at closing, with fixed monthly payments on both your first mortgage and second lien.
Program details
- Loan structure: FHA first mortgage paired with a repayable second lien for down payment assistance
- Down payment assistance: 3.5% or 5% of the home’s purchase price
- Second lien term: 10-year amortized repayment schedule
- Interest rate on second lien: Fixed rate, 2% higher than the first mortgage rate
- Minimum credit score: None
- Eligible properties: Single-family homes, condos, 2-4-unit multi-family properties, manufactured homes
- Borrower eligibility: Both first-time and repeat buyers qualify — at least one borrower must occupy the home as a primary residence.
- Mortgage insurance: FHA loans require an upfront mortgage insurance premium of 1.75%, plus annual mortgage insurance paid monthly with the home loan.
- Closing costs: While the down payment is $0, closing costs still apply, typically 2–6% of the purchase price. CCM ZeroDown can cover some closing costs, and seller concessions could help offset the remainder.
Who CCM ZeroDown is for
Ideal for:
- First-time homebuyers who haven’t saved for a traditional down payment but have a steady income.
- Repeat buyers who want to preserve cash for other investments, renovations or expenses related to their current home.
- Anyone tired of waiting — if you’re ready to own your dream home and can handle the monthly payment, this could fit your timeline.
If you want to stop renting and start building equity without needing a lump sum for a down payment, CCM ZeroDown is designed for you.
Important to understand: Borrowers with zero down payment face a risk of owing more than the home is worth if values decline. Equity builds more slowly at the start, and refinancing or selling before the second lien is paid off means paying the remaining balance. These are real factors to weigh — and a CrossCountry Mortgage loan officer can walk you through how much home you can afford given your full financial picture.
Frequently asked questions
-
Nope! We’re proud to help first-time and repeat homebuyers alike purchase their home without the cost of a down payment.
-
Yes. The down payment assistance is structured as a repayable second lien amortized over 10 years with a fixed interest rate of 2% higher than your first mortgage. Monthly payments begin at closing. This is not a grant or forgivable second — it’s a transparent, predictable repayment plan you can budget for.
-
If you sell or refinance your home before the second lien is fully repaid, you’ll need to pay off the remaining balance. This may affect your net proceeds from a sale or require coordination during a refinance. Talk to your loan officer about how this works for your specific situation.
-
Closing costs typically run 2–6% of the purchase price and include application fees, appraisal fees, title insurance, taxes and other factors. CCM ZeroDown can help cover some closing costs.
-
CCM Zero Down is offered in every state except New York and Puerto Rico.
Ready to explore your options?
Talk to a CrossCountry Mortgage loan officer about whether CCM ZeroDown is right for you. There’s no pressure — just honest answers, personalized guidance and the tools to make an informed decision.
Use our mortgage calculators to run the numbers, see potential monthly payments and compare loan types side by side. Or dive into our homebuying guide for a step-by-step look at the full process.
Subject to credit approval and program eligibility. All loans subject to underwriting guidelines and other factors. Program terms and availability may vary. Contact CrossCountry Mortgage for full details.
