Quick Answer
As of 2026 there are a record ~2,600 down payment assistance programs nationwide, with an average benefit around $18,000. First-time buyers (usually anyone who hasn't owned in 3 years) can combine low-down-payment loans — FHA 3.5%, conventional 3%, VA/USDA 0% — with grants or forgivable second mortgages from state, city, and employer programs. Start with your state housing finance agency and HUD's directory to find what you qualify for.
The biggest barrier to buying a first home is usually the down payment — and there's more help available than most buyers realize. As of 2026, a record number of assistance programs exist. Here's how they work and how to find yours.
Low-down-payment loan programs
| Program | Min. down | Best for |
|---|---|---|
| Conventional (first-time) | 3% | Good credit, want to drop PMI later |
| FHA | 3.5% | Lower credit scores (from 580) |
| VA | 0% | Veterans & service members |
| USDA | 0% | Eligible rural & suburban areas |
Down payment assistance (DPA)
~2,600 programs exist nationwide in 2026, averaging about $18,000 in help. DPA comes in three forms:
- Grants — money you never repay (e.g., 3% of the price, up to a cap).
- Forgivable second loans — erased after you make on-time payments for a set period.
- Deferred / repayable loans — often 0% interest, repaid when you sell or refinance.
Examples in 2026 range from Bank of America's grant of up to 3% (max $10,000) and state programs offering $20,000–$25,000, to New York City's HomeFirst program of up to $100,000 in high-cost areas.
Do you qualify?
- First-time status: usually means no homeownership in the last 3 years.
- Income limits: often tied to your area's median income.
- Education: many require a short homebuyer education course.
How to find programs near you
Start with your state housing finance agency (HFA) and HUD's state-by-state directory. Then ask lenders which programs they offer, and check your city, county, and employer.
Once you know your budget, estimate your payment with the mortgage calculator, figure out your price range in how much house you can afford, and see the low-down-payment details in how much down payment you need.