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.
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.
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
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
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.
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.
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.
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.
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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You're Always Home With Refind Realty.
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.
Office 1229 E. Pleasant Run Ste 224, DeSoto TX 75115
Call :(713) 505-2280
Email: [email protected]
Site: www.stevenjthomas.com
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