A popular option is a first and a second mortgage, both provided by the lender and allows for 100% financing. This creates a unique and desirable loan structure, in that PMI or mortgage insurance is not required on the loan. In a typical loan structure, it is the responsibility of the borrower to provide mortgage insurance when less than a 20% down payment is made.

Another option is also a first and second mortgage with the seller of a property carrying the second mortgage. If the seller is able to carry a second mortgage of 20% or more for a minimum of five years, again PMI can be eliminated.

A gift from a family member, friends, grant, local down payment assistance program (DAP), and a secured or unsecured loan. Unsecured loans may come from family members only , a government assisted program that provides for a mortgage without a down payment.

However; keep in mind that these programs typically have purchase price and/or income limitations. These limitations vary, depending on the location of the property. Therefore; many borrowers or the properties they want to purchase do not qualify for government assisted loans. Examples of government assisted programs include VA.