If you can get a lender to give you a $0 down loan there are a couple of possible drawbacks:
- Probable higher cost of the loan due to the higher risk to the lender.
- Probable higher interest rate due to the higher risk.
- Additional cost of private mortgage insurance.
On the other hand, there’s little risk for you because you have nothing invested and can walk away at any time while you benefit from any future appreciation and tax deductions.