Lender Launches Zero Down Mortgage Program For First-Time Buyers

June 2, 2017

Movement Mortgage announced a new program where first-time buyers can get a mortgage with a 0 percent down payment.

According to HousingWire, the Movement Assistance Program combines a non-repayable down payment grant of up to 3 percent of a home’s sales price with a 30-year conventional loan.

Homebuyers need to meet income and asset criteria to be approved, and the program offers access to job-loss insurance coverage.

Other lenders including Quicken Loans, Guaranteed Rate, and Fifth Third Mortgage, have similar programs with either assistance grants or zero down payments.

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