Every US state now offers at least one down payment assistance program for first-time homebuyers, with combined available funding exceeding $10 billion and grants ranging from $5,000 to $50,000 per household.
Types of Assistance
Programs include forgivable grants (free money after 5 years of homeownership), deferred-payment loans (due only at sale or refinance), and matched savings programs that double your down payment savings.
How to Apply
Most programs require completion of a homebuyer education course and income below 120% of area median income. Applications go through HUD-approved housing counseling agencies.
- All 50 states have programs
- $10B+ in total available funding
- Grants up to $50,000 per household
- Income limit: typically 120% AMI