What Are First-Time Homebuyer Programs?
First-time homebuyer programs and grants help make buying a home more affordable by offering down payment assistance, tax benefits, and lower interest rates.
Top First-Time Homebuyer Programs
| Program | Benefits | Who Qualifies? |
|---|---|---|
| FHA Loan | 3.5% down, easier approval | Credit score 580+, 3.5% down |
| VA Loan | 0% down, no PMI | Eligible military members |
| USDA Loan | 0% down, rural areas only | Low-to-moderate income buyers |
| Good Neighbor Next Door | 50% off home price | Teachers, firefighters, police |
How to Qualify for Homebuyer Grants
- 📄 Meet income & credit score requirements – Most programs require fair credit.
- 🏡 Be a first-time homebuyer – Some programs allow repeat buyers.
- 🌎 Check location eligibility – USDA & state grants apply to certain areas.
State-Specific Homebuyer Assistance
Many states offer down payment assistance and low-interest loans. Search for "first-time homebuyer grants in [Your State]" to find local options.
How to Apply for a First-Time Homebuyer Program
- âś… Check eligibility for state or federal programs.
- đź“‘ Gather documents (pay stubs, credit report, tax returns).
- 🏡 Get pre-approved for a mortgage with an approved lender.
- đź“ť Submit an application for grants or assistance programs.
“Homebuyer programs can save you thousands— don’t miss out on free financial assistance!”
— Sarah Thompson, Mortgage Advisor
Frequently Asked Questions
Can I get a home with no money down?
Yes! VA and USDA loans allow $0 down for qualified buyers.
Do first-time homebuyer programs have income limits?
Some do, but FHA and VA loans have no strict income limits.
What credit score is needed for these programs?
FHA requires 580+, USDA and VA loans have no set minimum.