There currently exist two loan programs that do not require a down payment: VA home loans and USDA mortgages.
The VA home loan is offered specifically for individuals that earned their eligibility by serving in the United States armed forces and Coast Guard. Qualified veterans will be afforded 100% financing for their new home purchase and they will not be required to pay any monthly mortgage insurance.
The other 100% financing home loan option currently available is made available by the US Department of Agriculture. The USDA mortgage is an excellent option for homebuyers seeking to purchase a home in an area designated as rural by the Department of Housing and Urban Development. The USDA home loan is great opportunity for individuals that meet the income guidelines and do not have the required down payment that most other home loan programs stipulate.