You may qualify for zero-down programs — and we’re here to help you find out. Many Greenville buyers don’t realize they qualify for VA, USDA, or down-payment-assistance options that can dramatically reduce — or eliminate — what they need to bring to closing.
We’re Al and Victoria Pinder, ICON agents at eXp Realty and hosts of Living in Greenville TV.
Book a Free Consultation →
Search Greenville NC Homes →
Or call us directly at 252-327-3357.
Zero-down home buying — 10 real options, on camera.
1. VA loans — zero down for those who served
If you’re an eligible veteran, active-duty service member, or surviving spouse, the VA Home Loan is one of the most powerful mortgage benefits available anywhere. Requires no down payment, no PMI, and typically offers competitive interest rates.
Greenville is home to a significant military community, and many buyers qualify without realizing it. Confirm your eligibility with a VA-approved lender before ruling it out.
- $0 down payment — finance 100% of your home’s purchase price.
- No PMI required — skip the costly private mortgage insurance.
- Flexible credit — more forgiving credit requirements than conventional loans.
2. USDA loans — zero down in eligible rural areas
The USDA Rural Development loan offers 100% financing for homes located in eligible rural and suburban areas. Parts of Pitt County, Grimesland, Ayden, Grifton, and Farmville fall within USDA-eligible zones.
USDA loans also come with below-market interest rates and low monthly mortgage insurance costs. Income limits apply but are generous enough to include many working families.
Pro tip: Use the USDA Eligibility Map at eligibility.sc.egov.usda.gov to check any specific address before falling in love with a property.
3. NC Housing Finance Agency — down payment assistance
Not everyone qualifies for VA or USDA — but you have other options. The NC Home Advantage Mortgage, offered through the NC Housing Finance Agency, provides eligible buyers with down payment assistance of up to 5% of the loan amount.
Who can qualify
- First-time and move-up buyers
- Income within NCHFA limits
- Credit score of 640 or higher
- Must use an approved lender
For a $200,000 home, 5% assistance equals $10,000 toward your purchase. The assistance is forgivable over time if you stay in the home.
4. FHA loans — low down with flexible credit
The FHA loan, backed by the Federal Housing Administration, is one of the most popular pathways for first-time buyers. With just 3.5% down and more flexible credit score requirements, FHA loans open doors that conventional mortgages often keep closed.
If your credit score is at least 580, you may qualify for the 3.5% down option. Scores between 500-579 may still qualify with 10% down.
5. Conventional 97 — just 3% down for qualified buyers
The Conventional 97 loan program allows qualified buyers to purchase with as little as 3% down. Unlike FHA loans, conventional loans can eventually eliminate PMI once you reach 20% equity — saving thousands over the loan’s life.
Typically requires a stronger credit profile (620+) but rewards borrowers with competitive rates and fewer long-term costs.
6. Credit preparation
Your credit score is one of the most important factors lenders evaluate — and the good news is that it’s within your control.
- Check report. Review your credit report and dispute errors at AnnualCreditReport.com.
- Pay down debt. Reduce balances to lower utilization.
- Hold new credit. Avoid applications for 90 days before applying for a mortgage.
7. Budget planning
Lenders will tell you the maximum they’ll approve — but that number isn’t always your best target. Find a payment that fits your life without stretching your finances.
- Principal and interest. Your base mortgage payment.
- Insurance and taxes. Property taxes and homeowner’s insurance — typically escrowed into your monthly payment.
- HOA fees. Many Greenville communities include HOA fees covering landscaping, amenities, and exterior maintenance. Always confirm before making an offer.
8. Get pre-approved
A pre-approval letter is your golden ticket in today’s market. Sellers often favor pre-approved buyers — and some won’t even accept offers without one.
- Talk to 2-3 lenders. Rate shopping within a 14-day window counts as a single credit inquiry.
- Compare rates and programs. Ask each lender about VA, USDA, FHA, Conventional 97, and NCHFA options.
- Secure your pre-approval letter. Typically valid for 60-90 days.
9-10. Find your home and close with confidence
Once you have your zero-down financing path locked in and your pre-approval secured, the rest of the process mirrors any home purchase — finding the right home, making a strong offer, completing inspection and appraisal, and closing day. We walk you through every step.
For the full step-by-step buyer playbook, see Your First Home in Greenville NC → or the Home Buyers Checklist →.
Ready to talk?
We’re Al and Victoria Pinder, ICON agents at eXp Realty and hosts of Living in Greenville TV. Free consultation, no pressure.
Book a Free Consultation →
Search Greenville NC Homes →
Or call us directly at 252-327-3357.
More Greenville resources
- Relocating to Greenville NC — Complete Guide →
- Living in Greenville NC →
- Living in Winterville NC →
- Living in Pitt County NC →
Equal Housing Opportunity. Al and Victoria Pinder are licensed real estate agents with eXp Realty, 2106 Charles Blvd, Greenville, NC 27858. Each office is independently owned and operated.