: This provides a lump sum of cash at a fixed interest rate, which you can use for the full purchase price or a substantial down payment.
The most common way to achieve a "no money down" purchase is by using the value already built up in your primary residence to cover the costs of the second.
While traditional lenders typically require at least a 10% to 20% down payment for a second home, you can buy one with no money down by leveraging equity in your current property, using specialized government programs, or negotiating creative financing with the seller. 1. Leverage Existing Home Equity