Buying a home for no money down. Is it possible if the home has equity?

[Whitney McNair]

I'm looking to purchase a home and I don't want to put any money down. What I want to do is buy the home low enough that the lender will count the equity for down payment. I've called several bankers and they have told me this isn't available and they could only do it if I had another property paid off and I could use that as collateral. Just wanted to see how to structure this? 

[Ken M.]

Quote from @Whitney McNair:

I'm looking to purchase a home and I don't want to put any money down. What I want to do is buy the home low enough that the lender will count the equity for down payment. I've called several bankers and they have told me this isn't available and they could only do it if I had another property paid off and I could use that as collateral. Just wanted to see how to structure this? 

I'm not aware of any lender that will do that for you. However, there are creative finance ways that can are similar. I've already done a few this year. It requires that you have a good income, a few pointers and a sense for adventure.