FHA 100% CLTV Combo: Buy With $0 Down
An FHA first mortgage at 96.5% loan-to-value paired with a concurrent second lien of up to 3.5% — combined, 100% financing. This is a combo structure, not a single zero-down mortgage: two liens close together on the same purchase.
How it works
Who qualifies
- Credit: 600 minimum. At 600 (manual or AUS), max DTI 43%. At 640+ with AUS approval, ratios follow AUS findings. DTI over 43% with a score under 640 needs a compensating factor.
- Income: no income cap — and you do not need to be a first-time buyer.
- Education: homebuyer education is required.
- Property: single-family, PUD, FHA-approved condo, double-wide manufactured home, or 2-unit. Purchase only, primary residence.
- Second-lien costs: no originator or lender fees on the second — only standard second-lien settlement costs.
- Loan size: conforming base — 1-unit up to $832,750 in the contiguous states; 2-unit up to $1,066,250.
- Availability: Arizona, California, Florida, Georgia, and Texas — the states where Vision One Mortgage, Inc. (NMLS #7861) is licensed to lend.
Other 100% paths from the same lender
- USDA: 100% LTV on eligible rural property, 600 FICO.
- VA: up to 100% LTV for eligible veterans.
Guideline figures above reflect the 8/25/2026 program revision. Matrices move — always re-check the current snapshot before quoting a file.
Program guidelines change frequently. Verify the current guidelines and matrix before locking or quoting. This is educational information, not a commitment to lend. Equal Housing Opportunity.
Common questions
Is this really $0 down?
The structure allows borrower cash as low as $0: the first covers 96.5% and the second covers up to 3.5% for down payment and/or closing costs. You'll still want to confirm total cash-to-close on your specific file.
Do I need to be a first-time buyer?
No. There is no first-time homebuyer requirement and no income cap on this combo.
What credit score do I need?
Minimum 600. At 600 with manual underwriting or AUS, the max debt-to-income ratio is 43%. At 640+ with AUS approval, ratios follow the AUS findings.
Is it available in my state?
We offer this combo in Arizona, California, Florida, Georgia, and Texas.
Is homebuyer education required?
Yes — completion of an approved homebuyer education course is required.
See what you qualify for
Tell us where you want to buy and how much you can put down. We'll match you with the assistance programs that fit — 100% combos, 1% down grants, or CalHFA — and walk you through every step.