The simple and concise answer is: Yes. It is possible to buy a house if you do not have money saved to pay for this advance. There are credits for houses without a down payment.
Unavoidable requirements to apply for a mortgage loan
Although one of the almost unavoidable requirements to apply for a mortgage loan is to have the amount necessary to give the down payment, not everyone has the money needed to pay that amount.
Currently, banks are expanding their range of options to provide their customers with a loan to buy their home.
The secret lies in obtaining a 100% mortgage
And there are currently institutions that have this financial product available, such as Good Finance and Good Lender.
The strategy is to complement the loan with the support of Goodbank. Through this mechanism it is feasible to acquire the entire desired home.
In succinct and specific form, the available programs are:
Support GoodCash. It is granted to right holders of GoodCash, since during the term of the mortgage loan, the employer contributions made in favor of the worker will be applied to reduce the outstanding balance of the credit. The maximum credit amount of the bank may be up to 95 percent of the value of the home.
Co-financing with GoodCash
With this program, GoodCash and the bank collaborate together, grant a loan to a worker for the purchase of a home, this being a mortgage guarantee in favor of both entities (in the proportion in which each entity grants its credit). The sum of both amounts may reach up to 100 percent of the value of the home.
Co-financing with the Good Lender. It works the same as co-financing with GoodCash, with the difference that it is aimed at the beneficiaries of the ISSSTE Housing Fund so that they obtain up to 100 percent of the value of the house they want.
Answering specifically to the question: Yes, it is possible to obtain a loan and not pay a down payment.