Like everyone said, there is no zero-down payment at this moment. However, you have a few options.
1. 3% Home Path Financing
If you buy a bank-owned property from Fannie or Fedddie, you are qualified for this loan program. It is not available for other bank-owned properties, short sales, or regular sale.
For more information, please go to http://www.homepath.com/financing.html.
You can also find Fannie owned homes with the website.
2. 3.5% FHA-insured mortgage
This loan is also known as FHA loan. FHA loan is to encourage first time home buyers to establish their home-ownership. Thus, Federal Government insures the investors to make low down payment to purchase owner-occupied properties.
However, you do need to pay mortgage insurance for this financing option. The bad news is that the insurance fee is going up in April 2013, that is in a few days. If you are qualified for other financing options. you should avoid this.
3. WA State Down Payment Assistance Program.
This is the closest alternative to zero down payment. That is you take out a second loan to pay for your down payment. You still have to pay it back (Of Course!!!) But the program is initiated by Washington State House Finance Commission, so it is to help you become a home owner.
You have meet certain criteria to be qualified for this program. For more information, please visit: http://www.wshfc.org/buyers/downpayment.htm
I frequently work with First Time Home Buyers and host periodic workshops for first time home buyers. That is why I can tell you more than just "No there is no Zero down!!" If you need any help, I would be happy to assist you. Even if you are not settled to buy, you are welcome to my workshop!!
To find home, save your search, and set up listing alert, visit http://www.seattlesweethomesearch.com/