We all watch the news and we all hear the housing market doom and gloom. The bevy of 100% financing options that were available just a short year ago have gone the way of the Sabre Tooth Tiger and the famed Dodo Bird. Extinct, for the time being at least. They may have disappeared with many of the rest of the loan programs wee be accustomed to, but that doesn't mean you still can experience the Carton Sheet's dream of home ownership with no money down.

Option #1.) Purchase a HUD Foreclosure -- In many states around the US HUD is running an incentive that will allow you to purchase one of their foreclosures for only $100 down. In some states they add an additional incentive for qualified properties that awards you $1000 back at closing. Wait, am I reading this right? You are, HUD is paying YOU $900 to purchase one of their foreclosures!

Option #2.) Seller Provided Down Payment Assistance -- In this case the seller will cover the down payment for you through a concession funded through a charitable organization like Nehemiah or Ameridream. If you want to use this one then act fact, HUD has been trying to ban this practice for a while now. I'd imagine that they will be successful within the next six months or so to eliminate this practice from FHA lending policy.

Option #3.) Family Gift -- You can get down payment funds from a member of your immediate family and even in some instances a very close family friend with special ties to the family. This is a simple and common way of getting the required FHA 3% down payment.

Option #4.) Bridal Registry -- Getting married? Have your wedding guests pay your down payment for you!

Option #5.) Employer Relocation -- Employer sending you across country to live and work? No problem, ask them to provide a housing gift you can use to purchase you new home. Afterall, they are moving you away from your current friends and family. It's the least they can do!

So, even though all the 100% programs are on hiatus, that doesn't mean you still can't purchase a home without putting anything down. There are quite a few ways that can work for you if you go out and find yourself a knowledgeable Mortgage Broker and a solid Realtor to help you purchase your next home.

The article No Down Payment Options in a Tough Lending Environment was Submitted by Jonathan Blackwell through Articles.GetACoder.com network. Here's the additional information: Jonathan Blackwell FHA 203K Specialist Hometown Lenders HREF="milto:jonathan.blackwell@hometownlendersllc.com"> jonathan.blackwell@hometownlendersllc.com http://www.203KLoan.net http://www.atlantahomeloans.net 404-551-3845