One of the biggest barriers to homeownership is the down payment. For years, the conventional wisdom has been that you need 20% down — or at minimum 3% to 5% — just to get in the door. But in Cape Coral, Florida, qualified buyers can purchase a brand-new construction home with absolutely no money down.
Here is how it works, who qualifies, and why this could be your path to homeownership in 2026.
How 100% Financing Works
Through our preferred lending partners, Coriano Homes offers a 100% financing program that covers the entire purchase price of the home. There is no down payment required. When combined with our builder incentive toward closing costs, many buyers are able to close on their new home with minimal to no out-of-pocket expenses.
This is not a gimmick or a too-good-to-be-true scenario. It is a real lending program offered by a federally chartered credit union that uses member-centric underwriting to evaluate the full picture of your financial situation — not just a single credit score number.
Who Qualifies?
The 100% financing program is available to buyers who meet the following general criteria:
- No current primary residence ownership: At the time of closing, you cannot own another primary residence. If you currently own and plan to sell before closing, you may still qualify.
- Creditworthiness: There is no hard minimum credit score cutoff. The lender evaluates your credit history, employment, income stability, and overall financial profile.
- Stable income: You need to demonstrate the ability to make your monthly mortgage payments. W-2 employees, self-employed borrowers, and even those with non-traditional income sources are considered.
The lender works with each applicant individually to determine eligibility, so even if you have been turned away by other lenders, it is worth exploring this program.
Other Programs Available
If the 100% financing program is not the right fit, our preferred lender offers several other options designed to make homeownership accessible:
First-Time Homebuyer Program (3% Down)
A 10/1 adjustable-rate mortgage with only 3% down, no mortgage insurance, up to $3,000 in lender-paid closing costs, and a reduced $500 origination fee. You qualify as a first-time buyer if you have not owned a primary residence in the past three years. Loans up to $600,000 are available, and gift funds are allowed for the down payment.
Florida Hometown Heroes
If you are a teacher, first responder, healthcare worker, veteran, or other eligible Florida workforce member, you may qualify for up to $35,000 in down payment and closing cost assistance through a 0% interest deferred second mortgage. This program can be combined with other financing options for even greater savings.
Doctor and Dentist Mortgage
Medical and dental professionals — including those still in residency — can access up to 100% loan-to-value financing for both conforming and jumbo loan amounts, even with significant student loan debt.
What Does the Monthly Payment Look Like?
With a new construction home starting under $480,000 and 100% financing, your estimated monthly payment — including principal, interest, taxes, and insurance — can be comparable to or even less than what many people are paying in rent in the Cape Coral and Fort Myers area. And unlike rent, every payment builds equity in an asset you own.
Get Started Today
The first step is to pre-qualify on our website. It takes about two minutes and there is no commitment. We will review your situation, match you with the best financing program, and connect you with our preferred lender to begin the process.
Visit our Financing page to learn more about every program available, or contact us directly with questions. Your new home in Cape Coral may be closer than you think.
