Unlock Your Dream Home with Down Payment Assistance Help
Get the down payment assistance you need and access tools and info to simplify your entire home-buying journey. Explore your options and make homeownership a reality.
What is Down Payment Assistance?
Down payment assistance programs are loans and grants designed to provide homebuyers with money to help them pay for a down payment. Some programs also help with closing costs.
Who Down Payment Assistance for?
Down payment assistance programs primarily target first-time homebuyers or those with lower to moderate incomes. A first-time homebuyer is defined as someone who hasn’t owned a home in the past three years. However, these programs are also available to repeat home buyers.
How does Down Payment Assistance work?
Down payment assistance is available through grants, loans, and various programs. Applicants often must submit a formal application and complete home buyer education. Assistance can be a percentage of the home’s sale price or a fixed dollar amount.
Down Payment Assistance Facts
Over 39% of all homeownership programs are for repeat homebuyers who have owned a home in the last 3 years.
Did you know there are 1,6000+ programs available from state and local governments, charities, and private lenders to help meet your down payment requirements?
Qualified buyers can receive anywhere from $5,000 to close to $35,000 toward their down payment and/or closing cost assistance.
To Qualify for Most Down Payment Assistance Programs
- Must be a first-time buyer, meaning you haven’t owned a home in the last three years.
- Income should fall within low to middle range, based on the program and your location.
- The home must be your primary residence.
- The property must be in an area that qualifies for Down Payment Assistance.
- Work with a lender approved for the DPA program.
- Choose a loan program that is eligible for DPA.
Home Bites
Fresh and digestible takes on the home-buying journey
Serving up quick, snackable insights on everything from the home search to down payments, mortgage moves, and more. Backed by the latest news, real experiences, and opinions, we’re making the home-buying journey easy to digest.
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