Do You Qualify for Downpayment Assistance?

What is down payment assistance?

Down payment assistance helps you cover your down payment as a first-time home buyer or repeat buyer who qualifies for this type of financial aid. When you buy a home, you’ll usually have to put money down that’s equal to a percentage of the final purchase price. This is called your down payment.

The amount you’ll need will vary, and some mortgage programs don’t require a down payment at all. Having this upfront cash on hand may not be easy for everyone, which is why down payment assistance grants, loans and programs exist.