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$0 Down Payment Program for First-Time Homebuyers

In today’s fluctuating real estate market, the dream of homeownership seems increasingly out of reach for many first-time buyers. High down payments and stringent lending criteria can make the process seem daunting. However, there's good news! The Sherry Riano Team is dedicated to turning your homeownership dreams into reality with our innovative 0% Down Purchase Program, specifically designed to ease the burden for first-time homebuyers.

What is the $0 Down Payment Program?

The $0 Down Payment Program is a unique initiative by the Sherry Riano Team to support first-time buyers in purchasing their dream homes without the upfront financial stress. Qualified buyers will receive a 3% down payment assistance loan, up to $15,000, which acts as a second mortgage with no interest and no mandatory monthly payments. This assistance is only repaid when you refinance or pay off your primary mortgage, offering significant financial flexibility.

Eligibility Requirements Explained

Option #1: Low to Moderate Income Buyers

To qualify under this option, your income must be at or below 80% of the Area Median Income (AMI) for the property’s location. If your income is at or below 50% AMI, you’ll benefit from an additional $2,500 credit that does not need to be repaid, further reducing your debt. Applicants must have a FICO score of 620 or more and an LTV ratio equal to or greater than 95% but no more than 97%.

Option #2: First-Time Homebuyers

First-time homebuyers—defined as individuals who have not owned a home in the past three years—can also apply. Requirements include a FICO score of 700 or greater and an LTV ratio that is more than 95% up to 97%. This option opens the door for new buyers to enter the housing market under favorable conditions.

How This Program Helps You Secure Your First Home

The $0 Down Payment Program not only makes homeownership more accessible but also more affordable. By removing the barrier of a large down payment, it allows you to allocate funds to other essential aspects of buying a home, such as moving expenses or home improvements. It also means entering the property market sooner than you might have thought possible, in a financially sustainable way.

Navigating the Application Process

Applying for the $0 Down Payment Program is straightforward. Start by consulting with one of our mortgage specialists to discuss your eligibility. You’ll need to prepare and submit an application along with documentation that verifies your income, credit history, and employment status. Our team is here to guide you every step of the way, ensuring that you understand and meet all the necessary requirements to qualify for this program.

Partnering with Realtors: Why This Program is a Win-Win

Realtors partnering with the Sherry Riano Team can offer this program as a significant value-add to their clients. It enhances the buying experience and supports closing deals by broadening the pool of potential buyers who can now consider homes that were previously out of their financial reach. Reach out to us to schedule an intro call.

Additional Resources and Support

For more detailed information on buying your first home and other available assistance programs, reach out to us. You can also find extensive data and expert advice on first-time home buying at

The Sherry Riano Team’s $0 Down Payment Program is designed with your needs in mind, providing practical solutions to the financial challenges of buying a first home. We are committed to empowering you on your journey to homeownership in North Carolina, South Carolina, Tennessee, Florida, Georgia, Alabama, Louisiana, or Virginia.

Ready to take the first step towards owning your dream home? Download our detailed flyer for the 0% Down Payment Program here, or contact us directly to schedule a consultation. Let the Sherry Riano Team help you navigate your path to homeownership with confidence and ease.