What down-payment assistance and first-time-homebuyer programs exist, and how do they work?
Yes, help is commonly available: state housing agencies, county governments, nonprofits, and some lenders offer down-payment-assistance programs, typically covering roughly 3 to 5 percent of the purchase price, structured as a forgivable loan, a repayable second mortgage, or an outright grant, depending on the program. In exchange, most programs come with rules: a minimum credit score, a household income limit, and either a repayment obligation or a required period you must keep the home as your primary residence.
Last updated July 22, 2026Related questions
- what's the Difference Between an FHA Loan and a Conventional Loan
- what Is a DSCR Loan, and How Does It Let You Qualify for an Investment Property Without Proving Personal Income
- what Is a Physician Loan, and What Are Its Terms and Property Restrictions
- can I Qualify for a Mortgage Using an ITIN Instead of a Social Security Number as a Non-Citizen
- minimum credit score to qualify
Sources
- https://downpaymentresource.com/professional-resource/down-payment-assistance-continues-to-expand-in-q1-2026-reaching-2679-programs-nationwide
- https://www.bankofamerica.com/mortgage/affordable-housing-programs
- https://welcomehome.tdhca.texas.gov/programs
- https://cdola.colorado.gov/down-payment-assistance
- https://www.cookcountyil.gov/news/cook-county-launch-third-phase-down-payment-assistance-program
- https://www.reachhomeloans.com/down-payment-assistance-programs-in-florida
- https://ohiohome.org/partners/documents/AtAGlance.pdf
- https://www.buildbuyrefi.com/down-payment-assistance
- https://downpaymentresource.com/homebuyer-resource/payment-assistance-program-features-explained-2
- https://www.chfa.org/homebuyers-homeowners/homebuyers/time-to-own-down-payment-assistance-program-loan
- https://www.tsahc.org/home-buyer-programs
- https://www.ohfa.org/eligibility-tool
- https://housing.az.gov/sites/default/files/Pathway_to_Purchase_Flier_v3.15.2016N.pdf
- https://housing.lacity.gov/housing/help-moderate-income-first-home-buyers
- https://www.investopedia.com/terms/s/silent_second_mortgage.asp
Educational information only, not individualized financial or legal advice. Program details and rates change; verify current terms with a licensed loan officer before making a decision.