Do I have to repay down payment assistance?

It depends on the program. Some are grants, while others are loans that may be deferred or forgiven if you meet the terms.

Can I combine assistance with any mortgage?

Not always. Programs usually require approved lenders or specific loan types. Check the program rules before you choose a lender.

How much assistance is available?

It varies widely by area and program. A local housing agency can tell you what is currently available and how it works.

How Down Payment Assistance Helps First-Time Buyers

Down payment assistance programs help first-time buyers cover upfront cash to close. They can be grants or loans and vary by city and state.

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Benefits

✓Reduce upfront cash to close
✓Some assistance does not need repayment
✓Some loans can be forgiven if you meet terms
✓Can be layered with certain loan programs
✓Helps preserve savings for reserves

Eligibility Requirements

First-time buyer definitions vary by program
Income and purchase price limits may apply
Homebuyer education may be required
Use the home as your primary residence
Credit and documentation requirements vary
Work with an approved lender or agency

How It Works

Find programs offered in your city or state

Check eligibility and required courses

Complete education if required

Apply through an approved lender

Funds are applied at closing

Review any repayment or forgiveness terms

The Questions Everyone Asks

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