Don’t Miss Out on the Growing Number of Down Payment Assistance Programs

or a down payment get into a home they can afford. Our data shows the average DPA benefit is roughly $17,000. That can be a nice jump-start for saving for a down payment and other costs of homeownership.”

Imagine being able to qualify for $17,000 toward your down payment—that’s a big boost, especially if you’re looking to buy your first home. With that level of help, buying a home may be more within reach than you think.

But it’s worth calling out that the growth in DPA options isn’t just focused on first-time and first-generation buyers. Many of the new programs are also aimed at supporting affordable housing initiatives, which include manufactured and multi-family homes. This means that more people, and a wider variety of home types, can qualify for down payment assistance, making it easier for you to find an option that fits your needs.

Talk to a Real Estate Expert About What’s Available for You

With so many DPA programs out there, you need to make sure you’re finding the right one for you. That’s why it’s key to lean on your real estate and lending professionals for guidance. The Mortgage Reports says:

“The best way to find down payment assistance programs for which you qualify is to speak with your loan officer or broker. They should know about local grants and loan programs that can help you out.”

Your loan officer or real estate agent will know what’s available in your area and can point you toward programs that align with your goals.

With more down payment assistance programs than ever before, now’s a great time to explore how these options can help on your home-buying journey.