Many people meet some aspects of the lending criteria, but lack the cash for a down payment. How can you buy a house without putting 20% down?

Most traditional mortgages require a 20% down payment, but there are other options that can get you into a home without shelling out large sums of money.

Obtaining a VA loan is one of the most popular ways to purchase a home without a down payment. Qualified veterans and service members on active-duty, as well as some members of the National Guard and Reserves may qualify to obtain a mortgage with no down payment.

Additionally, the Navy Federal Credit Union will provide 100% financing to qualified members. Potential borrowers include members of the military, certain civilian military and Department of Defense employees and their family members.

The Department of Agriculture offers USDA loans, another zero down mortgage option specifically designed for first-time home-buyers that include some restrictions: including location of property, household income and decent borrower credit.

Some credit unions also offer no down payment financing to credit union members who meet other loan criteria.

The Federal Housing Administration has offered home loans for those with less-than-perfect credit since 1934. Although they don’t make loans with no down payment, FHA mortgages require only a 3.5% down payment, which is more manageable for first-time home buyers.

There are many paths to home ownership, and some don’t require a down payment. These are especially attractive to first-time home buyers and those with less than perfect credit. As you research these options, remember that a real estate agent can help guide you toward sound financial decisions as you navigate the process of buying a new home.