Programs like this one generally offer no down payment, help with closing costs, and no minimum credit score, and they are a long way from a 2008-style ninja loan. The ninja loans of that era verified no income and no assets. These programs still document income and assets fully. What they remove is the down payment and the reliance on a traditional credit score, substituting an on-time payment history from things like rent, utilities, phone, and insurance. Confirm the exact terms directly with the lender, since the specifics and dollar amounts change over time. That said, pulling two legs out from under the stool adds real risk. Credit scores get fairly criticized for racial disparities, and they also carry genuine predictive value, so lending without one leans harder on the rest of the file. Our honest expectation is that far fewer people qualify than the headlines suggest, because the underwriting behind these programs tends to be strict. They make a great press release, and they do help some families. Treat the marketing and the real-world approval odds as two different things, and have a lender run the program against a standard low-down-payment option so you can compare the actual terms.