Zero down payment mortgages Meaning and Definition

4 weeks ago
InfoPlugMedia
2 minutes
Zero Down Payment Mortgages

Zero Down Payment Mortgages

Pronunciation

/ˈziːroʊ ˈdoʊn ˌpeɪmənt mɔrˈtɪɡɪdʒɪz/

Part of Speech

Noun

Definition

A type of mortgage that allows borrowers to purchase a property without making a down payment, usually offered by government agencies or other special programs.

Examples

  • The couple was able to purchase their first home with a zero down payment mortgage.
  • Zero down payment mortgages are available for certain types of properties, such as USDA-qualified homes.

Synonyms

  • No-down-payment mortgage
  • Government-backed mortgage

Antonyms

  • Conventional mortgage
  • Down payment required mortgage

Etymology

Term originated in the 20th century, coined from the combination of “zero” and “down payment” to describe a unique type of mortgage.

Usage Notes

Use “zero down payment mortgage” in financial or real estate contexts to describe a mortgage that does not require a down payment.

Cultural References

The Kite Runner by Khaled Hosseini mentions a zero down payment mortgage as a way for a characters to purchase a home.

Idiomatic Expressions or Phrases

  • “No-down-payment mortgage”

Related Words or Phrases

  • Government-backed mortgage
  • No-down-payment mortgage
  • Down payment required mortgage

Collocations

  • Z ero down payment mortgage and first-time homebuyer
  • Z ero down payment mortgage and government agency

Frequency of Use

The term “zero down payment mortgage” is commonly used in the financial and real estate industries, with a moderate frequency of use in everyday conversation.

Common Misspellings

  • Zerro down payment mortgage
  • Zer down payment mortgage

Related Words