Who Qualifies for Down Payment Assistance?
If you want to purchase a house for the first time but don’t have enough money for a down payment, getting a state or local down payment assistance program might be the best option.
We’re going to look at what down payment assistance programs are all about and how you could qualify for one.
What is Down Payment Assistance?
Down payment assistance is any funding option or program that makes it easier for homebuyers to get the money they need for a down payment. Both public and government agencies offer these programs, usually as grants. They typically work by either providing the buyer the funds to cover the down payment or waiving the down payment requirements.
Most of the time, you need to meet some specific income requirements to…
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