Can You Buy a Home in Dallas With No Money Down? [Options Explained]

By Steven Thomas – Refind Realty

If you’ve been holding off on buying a home because you don’t have a big down payment saved, I’ve got good news.

Yes, it is possible to buy a home in Dallas with little to no money down—and it’s more common than you think. A lot of my first-time buyers are surprised to learn they may already qualify for low or zero down programs without even realizing it.

Let’s walk through the real options available to you today.

Zero Down Home Loan Programs That Work in Dallas

1. USDA Loans (Yes, They're Not Just for Farms)

You don’t have to buy land or live in the middle of nowhere. The USDA Rural Development Loan offers 100% financing for homes in designated areas. Many suburbs around Dallas still qualify.

Basic requirements:

• Must be your primary residence

• Income limits apply based on household size

• Property must be in an eligible area

If you’re flexible on location, this can be a great option.

2. VA Loans (For Veterans and Active Military)

If you’ve served in the military, you likely qualify for the VA loan, which offers:

• No down payment

• No private mortgage insurance (PMI)

• Competitive interest rates

I work with VA buyers regularly across Dallas and the surrounding areas. It's one of the most powerful financing tools available.

Not sure if you qualify? Get pre-approved here

Low Down Payment Loans With Down Payment Assistance

3. FHA Loans + Down Payment Assistance (DPA)

FHA loans require just 3.5% down, but when you combine them with state and local DPA programs, that down payment can be covered.

Some top DPA programs available in Dallas:

• TSAHC (Texas State Affordable Housing Corporation)

• TDHCA (Texas Department of Housing & Community Affairs)

• Local city-level grants and assistance (up to $20,000 in some areas)

DPA can come in the form of grants or forgivable second loans. I help my clients apply and match them with the right program.

Want to learn more? Watch my New Construction Webinar or read the New Construction Home Guide

4. Conventional 97 Loan (Only 3% Down)

This Fannie Mae-backed loan is great for buyers with strong credit. You only need 3% down, and it can all come from a gift or assistance.

This is especially helpful for first-time buyers purchasing within city limits who need flexibility.

Other Creative Ways to Buy With Less Cash

5. Builder Incentives & Promotions

If you’re buying a new construction home, many builders offer:

• Closing cost credits

• Paid down payments

• Rate buy-downs

I negotiate these on behalf of my clients regularly. You’d be surprised what’s on the table when you work with a builder-friendly agent.

Explore Dallas-area new construction homes here and see what incentives are available.

Also check out my New Construction Rebate Program to save even more.

6. Seller Concessions

In today’s market, some sellers are willing to help buyers with closing costs. This can reduce the amount of upfront cash you need to close.

As your agent, I’ll help negotiate these concessions and guide you on when and how to ask.

Is No Money Down Really Smart? Let’s Talk Pros and Cons

Pros:

• You get into a home faster

• Keep savings for emergencies or home maintenance

• Great for first-time buyers or renters ready to stop renting

Cons:

• You’ll have a higher monthly payment

• Less initial equity

• Could face PMI depending on the loan type

The key is knowing which program fits your finances, goals, and timeline. That’s where I come in.

Let’s See What You Qualify For

You might be closer to homeownership than you think. Whether you're active duty, a first-time buyer, or just tired of renting, we’ll find out what options are available to you—with no pressure and no guesswork.

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FAQs – Buying a Home in Dallas With No Money Down

1. Can I really buy with zero money out of pocket?
Yes, with programs like USDA, VA, or down payment assistance, you can potentially cover all upfront costs.

2. Do I have to be a first-time buyer?
Not always. Some programs require it, but others (like VA loans) don’t.

3. Is my credit score important?
Yes. Most no-money-down programs require a minimum credit score between 580 and 640, depending on the loan type.

4. How long does it take to close with assistance?
Most closings take 30 to 45 days. We’ll build in extra time for DPA approvals if needed.

5. Are there income limits?
Some programs like USDA and TSAHC do have limits based on household size and location.

6. Do I have to pay the assistance back?
Some programs are grants (no repayment), others are forgivable loans. I’ll help you understand the fine print before you commit.