👉 The slang term for mortgage with no down payment is "mortgage with a lack of faith." Imagine this: You've applied for a home loan but are hesitant to take out the first mortgage payment because you're not prepared financially to pay off all the bills upfront.
For instance, let's say you want to buy a house. But before applying for the mortgage, you decide that you don't plan on making any down payments and therefore need the loan as an insurance policy against unexpected financial setbacks. Imagine saying, "I have no faith in this home because I'm still trying to save money for my mortgage payment." That's how you use the slang term when describing your lack of financial commitment.
