Money on the Table
Every state has a Housing Finance Agency (HFA) offering below-market mortgages and down payment assistance to first-time buyers. Most people never apply. Don't be most people.
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Most programs use the HUD definition: you have not owned a primary residence in the past 3 years. This means divorced homeowners, renters who previously owned, and people who owned years ago can qualify.
Some programs (like USDA and VA loans) have no first-time buyer requirement at all.
Backed by the Federal Housing Administration. Easier to qualify than conventional. Requires mortgage insurance (MIP). Max loan limits vary by county.
No down payment for properties in USDA-eligible areas. Income limits apply. Check eligibility at eligibility.sc.egov.usda.gov.
No PMI, no down payment, competitive rates. Best mortgage product available. VA funding fee applies (can be financed).
HUD-owned properties in revitalization areas at 50% discount. Must live in the home as primary residence for 36 months.
Dollar-for-dollar federal tax credit of 20–40% of annual mortgage interest paid (up to $2,000/year). Reduces your federal tax liability every year you own the home.
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Compare Mortgage Rates →Each state has an HFA (Housing Finance Agency) that offers below-market mortgage rates and down payment assistance exclusively for first-time buyers. These are real programs with real money — billions of dollars go unclaimed every year because buyers don't know they exist.
Use the state guide above or search "[your state] housing finance agency."
Most programs have income caps (typically $80,000–$180,000 depending on the state and household size) and purchase price limits.
Almost all DPA programs require this. Takes 6–8 hours online. Cost: $0–$75.
Not all lenders are approved to originate HFA loans. Find approved lenders through your state HFA website.
The first mortgage and DPA second mortgage are applied for together through your approved lender.
FSBO sellers take pre-approved buyers seriously. LendingTree lets you compare rates from 200+ lenders in minutes — for free.
Affiliate link — we earn a commission at no cost to you. Disclosure