Types of assistance
- Grants that may not require repayment when conditions are satisfied.
- Deferred or forgivable subordinate loans tied to occupancy or ownership periods.
- Low-interest second loans for down payment or closing costs.
- Mortgage-credit or tax-related programs where offered.
- Special programs for public-service employees, veterans or targeted communities.
Where to look
Programs may be administered by state housing finance agencies, local governments, housing authorities, nonprofit organizations or participating lenders. HUD-approved housing counselors can help buyers understand local options and the obligations attached to assistance.
Questions to ask before accepting assistance
- Does the assistance have to be repaid when the home is sold or refinanced?
- Is any amount forgiven over time?
- Are there income, purchase-price, property-location or occupancy limits?
- Is homebuyer education required?
- Does the program restrict the first mortgage, rate or lender?
- How does it change cash to close and the long-term cost?
Prepare before applying
Review credit reports, build a realistic housing budget, document income and assets, avoid unexplained deposits, and compare Loan Estimates. A first-time buyer program can help with upfront funds, but it does not make an unaffordable monthly payment sustainable.
The CFPB directs consumers to HUD-approved housing counseling agencies and the national HOPE Hotline at (888) 995-HOPE (4673) for homebuying guidance.
Personal guidance
Want to discuss how this applies to you?
Greg can help you compare current loan options, documentation, costs and timing for your property and financial goals.
This educational summary was prepared from the referenced official material and reviewed on September 13, 2026. Program rules, limits and eligibility can change. Your lender’s current underwriting requirements and official disclosures control.