You might not need 20% down.
Some qualified buyers may be eligible for programs that assist with down payments or closing costs. Availability, repayment terms and eligibility vary by program and location.
Grant Programs
Some programs may provide assistance that does not require repayment when all conditions are met.
Forgivable Second Mortgages
Some second-lien programs may forgive balances after their occupancy and timing requirements are met.
Deferred Second Mortgages
Some programs defer repayment until a specified event. Terms vary and must be reviewed for each program.
Common Requirements
- Minimum credit score (often 620-640)
- First-time homebuyer status (for some, not all)
- Income limits based on county guidelines
- Completion of a short homebuyer education course