In some cases, it is possible to buy a home in Chicago without a down payment. There are various programs and options for buying homes without a down payment, such as the FHA (Federal Housing Assistance Agency), VA (for veterans), USDA (for rural areas), and others.
However, to qualify for such programs, the buyer may need to meet certain conditions, such as a minimum credit score and sufficient income. Some of these programs may also require additional fees or insurance.
It is important to note that the lack of a down payment can affect the terms of the loan, including the amount of monthly payments and insurance, and can increase the overall cost of the home. Therefore, it is important to carefully review all the terms and possible consequences before deciding to buy a home without a down payment. It is always recommended to consult with real estate and financial professionals for detailed information and recommendations according to your specific situation.