Where to turn for help
Every year, many state, county and city governments provide financial assistance for people in their communities who are well-qualified and ready for homeownership. Requirements vary, but if you're eligible you could receive down payment assistance ranging from a few thousand dollars to larger amounts, depending on your needs, your qualifications, and where the home is located.
Additionally, many programs specifically benefit veterans, Native Americans, and workers employed in education, health care, law enforcement, and firefighting are available.
Types of help
Reach out to your lender or housing counselor and ask them about state and local down payment assistance programs - they should be able to point you in the right direction.
The U.S. Department of Housing and Urban Development (HUD) gives grants to state and local organizations nationwide to help homeowners bridge the down payment gap. To find the programs in your area, check out HUD's listing.
State and local HFAs administer down payment assistance programs that you may be eligible for.
Be sure to talk with your lender about all down payment options and explore down payment assistance programs you may be eligible for on Down Payment Resource®. Equipped with knowledge and some help with the down payment, homeownership may be within your reach.
Tools and Resources
What is PMI? And can it benefit you?
Research how much of a down payment you should consider.
Get a sense of how and where you’re spending your money so you can build a realistic monthly budget.
Get the information you need to build your savings on your terms.