Down Payment Assistance Programs And Grants: What They Are And How They Work

Feb 12, 2025

5-minute read

Share:

Couple snuggling on couch and reviewing information online on open laptop.

Making a down payment is often one of the biggest steps toward turning your dream of homeownership into a reality.

This is why it’s important to know what you might qualify for in down payment assistance courtesy of a government agency or private organization. Opportunities for down payment assistance are especially common among first-time home buyers.

Understanding exactly what home down payment assistance is, how it works, and the different options available can help you receive it.

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.

See What You Qualify For