<prompt> Human: A credit union of mine Who I have a car loan with a very good interest rate on has a promotion where first time home buyers can get a mortgage with 0 down and requires no PMI. The interest rates arent any higher than market standard right now, either. As far as I can see, the only fine print is that the offer is restricted to houses in certain states, and also that it cant be a condo. Only townhouses or Single family homes.What gives? I cant really see the downside in this, but Im also not a huge financial savant to see whatever glaring issues with this that there are. Is there some reason I absolutely shouldnt try going for this? Im aware that not having a down payment would mean higher monthly payments and, of course, paying more overall in interest, but is there anything else to it?  <response>: I got my mortgage with them and had no problems. 