Loan program
Down payment assistance
Local and state programs that can reduce your upfront cash to close.
Who it may be for
Buyers with steady income but limited savings for a down payment or closing costs.
Key benefits
- ✓Grants or second liens for down payment and closing costs
- ✓Can be paired with FHA or conventional loans
- ✓May make homeownership possible sooner
Important considerations
- ·Programs have eligibility rules
- ·Some assistance is repayable
- ·Approval timelines may vary
FAQ
Common questions.
Is down payment assistance free money?+
Some programs are grants that do not need to be repaid. Others are loans or silent seconds that are paid when you sell or refinance.
Who qualifies for assistance?+
Requirements vary by program but usually include income limits, first-time buyer status, and completing a homebuyer education course.