Down-Payment Assistance Loans

Down payment assistance comes in the form of grants, loans and other programs. It’s typically reserved for first-time home buyers only. They can be run by a variety of organizations, such as your local or state housing authority, or by a nonprofit. Eligibility is determined by your household income and credit history, varying by state and program. An application is typically needed, and sometimes you’re also required to attend training or home buyer education on the mortgage process and maintaining finances.

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