First-Time Buyer & Down Payment Assistance
Buying Your First Home May Be More
Possible Than You Think
First-time home buyer programs and down payment assistance options can help eligible buyers reduce some of the upfront costs of purchasing a home.
Depending on the program, assistance may be available for down payment, closing costs, or both, while loan options such as conventional, FHA, VA, or other programs may be paired with available assistance.
Program availability, eligibility, income limits, purchase price limits, minimum borrower contribution, repayment terms, and assistance amounts vary by program, location, and borrower scenario.
How First-Time Buyer & Down Payment Assistance
Programs Work
Eligibility Review
The lender reviews your income, credit, assets, household information, and property goals to determine which loan and assistance programs may be available.
Loan & Assistance Matching
Your primary mortgage is paired with an eligible down payment or closing cost assistance program based on your qualifications and the property.
Program Requirements
Some programs may include home buyer education, occupancy requirements, income limits, purchase price limits, or minimum borrower contributions.
Loan Approval & Closing
Once the mortgage and assistance program requirements are satisfied, the financing can move toward closing.
Requirements to Expect
Credit & Income Review
Your credit profile, income, employment, debts, and overall ability to qualify for the mortgage are reviewed.
Available Funds & Contribution
Some programs may require a minimum borrower contribution or documented funds for certain closing costs or reserves.
Property & Occupancy Requirements
The home generally must meet program guidelines and may need to be used as your primary residence.
Program-Specific Guidelines
Income limits, purchase price limits, assistance amounts, repayment terms, and other requirements vary by program and location.
Ready to Explore Your Home Buying Options?
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