How to Buy a Home with Little to No Money Down in Nevada County | Evan Glasco

Apr 2

Buying a home without a massive down payment may seem out of reach, but there are proven loan programs and strategies that make it possible to buy in Nevada County with little to no money down. Whether you’re a first-time homebuyer or an investor looking for creative options, this guide breaks down your best paths to affordable homeownership.

Can You Really Buy a Home with No Money Down?

Yes. While a 20% down payment is often mentioned, many buyers in Grass Valley, Nevada City, Truckee, and surrounding areas qualify for programs that allow for low or zero down—often without even realizing it.

No down payment? Possible with the right financing
Low credit? Some programs work with scores as low as 580
Little savings? Assistance is available to help cover your upfront costs

1. No Money Down Loan Options

VA Loan (0% Down) – Best for Veterans and Military Buyers

Who qualifies: Veterans, active-duty service members, and some surviving spouses
Key benefits: 0% down, no private mortgage insurance (PMI), competitive interest rates

USDA Loan (0% Down) – Best for Rural Homebuyers

Who qualifies: Buyers purchasing in USDA-eligible rural areas (many parts of Nevada County qualify)
Key benefits: 0% down, low mortgage insurance, flexible credit guidelines

Pro Tip: Many neighborhoods in Nevada County are classified as “rural” under USDA guidelines—let’s check your desired area together.

2. Low Down Payment Loans (3–5% Down)

FHA Loan (3.5% Down) – Ideal for First-Time Buyers

Who qualifies: Buyers with credit scores of 580+
Benefits: Lower down payment, more flexible credit requirements, solid interest rates

Conventional Loan (3–5% Down) – For Buyers with Stronger Credit

Who qualifies: Buyers with scores of 620+
Benefits: Lower long-term mortgage insurance and more loan flexibility

Pro Tip: Many lenders also offer down payment assistance programs that can significantly reduce your upfront costs.

3. Down Payment Assistance & Grant Programs

There are local and state resources available to help first-time buyers afford the upfront costs of homeownership.

Popular options include:

CalHFA: Loan and grant programs for California residents
Golden State Finance Authority (GSFA): Down payment assistance for eligible buyers
Nevada County Local Assistance: County-level grants and incentives for first-time buyers

Pro Tip: These programs can cover part—or even all—of your down payment and closing costs. Let’s explore what you qualify for.

4. Creative Strategies to Buy a Home with No Money Down

Even if you don’t qualify for traditional low-down-payment loans, there are still ways to minimize or eliminate your out-of-pocket costs.

Seller Concessions: Negotiate with the seller to cover your closing costs
Gift Funds: Many loan programs allow family members to help with your down payment
Lease-to-Own Options: Rent now, buy later while building equity
House Hacking: Buy a duplex or multi-unit, live in one unit, and rent the other(s) to cover your mortgage

Pro Tip: In a buyer’s market, sellers are often willing to cover closing costs to get the deal done—negotiating this can save you thousands.

Final Thoughts: Yes, You CAN Buy a Home with No Money Down

If saving for a down payment has kept you on the sidelines, don’t let that stop you any longer. With zero-down loans, local grants, and smart negotiation, homeownership in Nevada County may be more achievable than you think.

Pro Tip: By combining a low down payment loan with closing cost assistance or seller credits, many buyers get into their home for under $10,000—or even $0.

Let’s Talk About Buying a Home in Nevada County

Whether you're just starting your home search or already pre-approved, I’m here to help you explore every option and find the right path forward—at the right price.

Evan Glasco
📍 Realtor® | Lic# 02209690 | Coldwell Banker Grass Roots Realty
🏡 Nevada County Real Estate Specialist
📞 530-635-2521
📧 EvanSellsRealEstate@gmail.com
🌐 www.EvanSellsRealEstate.com
📢 "I'm more than just a Realtor—I'm here to guide you home."

🔹 Top 10% of Agents in California | Masters Club Member
🔹 Helping Buyers, Sellers & Investors Navigate the Market
🔹 Local Expertise | Negotiation Power | Personalized Service

Evan Glasco

Evan Glasco is a dedicated real estate expert specializing in Nevada County, California. With a background in construction, property management, and real estate investing, Evan brings hands-on experience and deep market knowledge to every transaction. As a member of the Masters Club, representing the top 10% of agents in California, he is committed to helping clients maximize their investments—whether they’re buying, selling, or investing. Known for his personalized approach and problem-solving skills, Evan ensures a seamless and rewarding real estate experience. When he’s not negotiating deals, he enjoys time with his family and exploring the beauty of Nevada County.

https://www.evansellsrealestate.com