For many buyers, the biggest obstacle to homeownership isn’t finding the right home — it’s coming up with the cash needed upfront. The good news? Help may be closer than you think.

There are 2,624 down payment assistance programs available nationwide, and for buyers who qualify, the average benefit is around $17,000. Yet many homebuyers don’t realize these programs even exist.

What Is Down Payment Assistance?

Down payment assistance (DPA) programs are designed to help qualified buyers cover upfront costs like down payments and, in some cases, closing costs. These programs are offered by a mix of state, local, and nonprofit organizations with one goal in mind: making homeownership more accessible.

Assistance can come in different forms, including grants, forgivable loans, deferred-payment loans, or low-interest second mortgages. The structure varies, but the impact can be significant.

Why This Matters More Than Ever

Saving for a down payment is often the biggest challenge buyers face — especially first-time buyers. With an average benefit of $17,000, down payment assistance can:

• Reduce the amount of cash you need upfront

• Help you buy sooner instead of waiting years to save

• Make monthly payments more manageable

• Open the door to better loan options

For many buyers, these programs are the difference between continuing to rent and becoming a homeowner.

Who Typically Qualifies?

Eligibility varies by program, but many are designed for:

• First-time homebuyers (often defined as not owning a home in the last three years)

• Buyers within certain income limits

• Purchasers buying a primary residence

• Buyers willing to complete a short homebuyer education course

Some programs are also tailored to specific professions, neighborhoods, or community development goals.

Why So Many Buyers Miss Out

Despite the availability of thousands of programs, many buyers never apply because they assume they won’t qualify or don’t know where to look. Others mistakenly believe assistance is only for very low-income households — which often isn’t the case.

That’s why working with a knowledgeable real estate professional and lender is so important. They can help identify programs that match your situation and guide you through the process.

Bottom Line

With over 2,600 down payment assistance programs available and an average benefit of $17,000, help may already be waiting for you. If saving for a down payment feels like your biggest roadblock, it’s worth exploring what options you qualify for — you might be closer to homeownership than you think.

If you’d like to talk about down payment assistance programs available in your area, let’s connect.