Get My Home Value

Can you buy a home in San Diego with no money down?
Yes, in some cases. Loan programs like VA and USDA offer no-down-payment options, and there are down payment assistance programs that may help first-time buyers in San Diego qualify with little to no upfront cash.

What Does “No Money Down” Really Mean?

Buying a home with no money down doesn’t mean there are zero costs—it means you’re not putting money toward the down payment. You’ll still need to cover closing costs, inspections, and other fees. However, there are loan programs and grants that can help cover those costs too, making homeownership more accessible.

Zero Down Loan Options in San Diego

Here are a few mortgage options that don’t require a traditional down payment:

VA Loans (For Veterans and Active Duty Service Members)

  • Backed by the U.S. Department of Veterans Affairs
  • 0% down payment
  • No private mortgage insurance (PMI)
  • Competitive interest rates
  • Must meet service and credit requirements

USDA Loans (For Eligible Rural Areas)

  • Backed by the U.S. Department of Agriculture
  • 0% down payment
  • Income and property location restrictions
  • Great option for certain areas just outside San Diego proper

Down Payment Assistance Programs in San Diego

If you’re not eligible for a VA or USDA loan, don’t worry—there are still local programs that can help with your down payment and closing costs.

California Dream For All Shared Appreciation Loan

  • Helps cover up to 20% of a home’s price
  • No monthly payments on the loan
  • You repay the loan (plus a share of the home’s appreciation) when you sell or refinance

CalHFA MyHome Assistance Program

  • Offers deferred-payment loans for first-time buyers
  • Can be used toward down payment or closing costs
  • Income limits apply based on household size and county

San Diego Housing Commission First-Time Homebuyer Program

  • Down payment and closing cost assistance
  • Must be buying within the city of San Diego
  • Buyer must occupy the property as a primary residence

These programs often have specific guidelines, including income limits, purchase price caps, and homebuyer education requirements.

What Are the Pros and Cons of No Down Payment Loans?

Pros

  • Get into a home faster
  • Preserve your savings for future expenses
  • Lower upfront costs

Cons

  • Higher monthly payments
  • More interest paid over time
  • Must still qualify with income, credit, and debt ratios

It’s important to talk to a lender or real estate professional who understands these options in-depth. At Schwarz Real Estate Group, we work closely with trusted local lenders who specialize in first-time buyer and low-down-payment programs.

Tips for Getting Approved With No Money Down

If you’re planning to pursue a no-down-payment mortgage, here’s what you can do to improve your chances:

  • Check your credit score: Most programs require a minimum of 620–640.
  • Pay down debt: Lowering your debt-to-income ratio can improve approval odds.
  • Gather documentation: Lenders will need proof of income, employment, and assets.
  • Take a homebuyer education course: Required for many programs and gives you a solid foundation.

You Don’t Need 20% to Buy in San Diego

The idea that you need 20% down to buy a home is outdated. Today’s market includes creative financing options, especially for first-time buyers.

Whether you’re looking in North Park, Chula Vista, Oceanside, or anywhere else in the county, the team at Schwarz Real Estate Group can help you explore what’s possible.

We’ll connect you with local lenders who understand how to structure your deal with minimal upfront costs and walk you through each step of the process.

Final Thoughts

Yes, you can buy a home in San Diego with no money down—but it requires the right program and a strong plan. If you’re ready to explore your options, we’re here to guide you.

Let’s find out what’s possible together.