Grants to HomeBuyers are available from various sources. Some grants can combined. Please use the following resources as a starting point in looking for grants. Please understand that programs do expire as a result some of the links below will not work at various times during the year, or have been removed because the program is no longer offered.
Many state mortgage finance agencies offer downpayment assistance. Here is a list of the MFA's that offer downpayment assistance. If your state is listed they may not offer downpayment assistance (at least at the time we researched their sites) but may offer reduced interest rate mortgages for first time HomeBuyers.
Alaska - Alaska Housing Finance Corporation offers a variety of grant programs to ensure that Alaskans have access to safe, quality, affordable housing.
Arizona - Arizona Department of Housing, the Authority is able to issue Multi-Family Revenue Bonds for rental projects, low interest Single-Family Mortgage Revenue Bonds for first-time HomeBuyers’ primary financing, and Mortgage Credit Certificates to help provide additional income for first-time HomeBuyers through tax credits.
Arkansas - the Arkansas Development Finance Authority (ADFA) initiated the Downpayment Assistance (DPA) Program. ADFA has DPA for qualifying applicants of a first mortgage. The DPA ranges from $1,000 to $6,000 for closing cost assistance.
Delaware - Delaware's First-Time Home Buyers Program provides first mortgage financing at below-market interest rates to low- and moderate-income Delaware home buyers who have not owned a home in the past three years.
Florida - Florida Department of Community Affairs, Division of Housing and Community Development offers a number of programs to first time home buyers
Georgia - The Georgia Dream HomeOwnership Program makes purchasing a home more affordable for low-to-moderate income families and individuals by offering fixed, low-interest rate mortgages loans.
Hawaii - The Department of Hawaiian Home Lands Home Ownership Assistance program offers a HomeOwnership Center of resources
Illinois - the Illinois Housing Development Authority’s Affordable Housing Trust Fund Program offers low- and very low-income individuals help via down payment and closing cost assistance.
Iowa - Homeownership is the American dream, and each year the Iowa Finance Authority helps thousands of Iowans achieve it.
Kansas - The Kansas Housing Resources Corporation offers a First Time Homebuyers Program (FTHB) that provides down payment assistance to qualified Kansas buyers for the purchase of their first home
Kentucky - Kentucky Housing Corporation, as the state housing finance agency, is committed to putting people first as we continue to build partnerships and push the boundaries of traditional housing provision and support methods, and offers Down Payment and Closing Cost Assistance.
Maine - Maine Housing has several programs that can make it easier and more affordable to buy the home you want.
Mississippi - the Mississippi Home Corporation developed a Down Payment Assistance Program for low to moderate income first-time homebuyers. The program is available statewide
Missouri - The Missouri Housing Development Commission offers the First Place Loan program gives first-time* homebuyers the edge they need to purchase a home. Affordable, below market interest rates allow prospective buyers to obtain mortgage financing in a competitive market. Individual buyers may also be eligible for a 3% cash assistance grant that will help them with down payment and closing costs.
Nebraska - The Nebraska Investment Finance Authority Homebuyer Assistance (HBA) Mortgage provides down payment and closing cost assistance.
New Hampshire - New Hampshire Housing offers a Cash Assistance Option to their Single Family Mortgage Program that provides a cash assistance grant equal to a maximum of 4% of the loan amount to help borrowers defray the cost of down payment, closing costs, and prepaid escrow expenses associated with purchasing a home.
New Jersey - NJ Department of Community Affairs funds IDA's (Matched savings accounts to help low-income families accumulate funds specifically for high-return investments in home ownership, education or small-business ownership)
New York - State of New York Mortgage Agency (SONYMA) is dedicated to providing affordable home ownership opportunities to low and moderate income families in the State of New York through low interest rate mortgages.
North Carolina - the North Carolina Housing Finance Agency may be able to help you with downpayment assistance or second mortgage up to $20,000
North Dakota - North Dakota Housing Finance Agency offers downpayment assistance equal to three percent of the Start first mortgage. The help is in the form of a credit to the borrowers at the time of loan closing.
Ohio - The Ohio Housing Finance Agency offers down payment and closing cost assistance to eligible borrowers, which can greatly reduce their out-of-pocket expense. Homebuyers can choose between a down payment assistance grant in an amount equal to 2% of the home's purchase price, or a second mortgage in an amount up to 4% of the purchase price of the home secured by the first mortgage single family bond loan.
Oklahoma - Oklahoma Housing Finance Agency offers down payment and closing cost assistance called the1st Gold program.Oregon - The Oregon Housing and Community Services (OHCS) offers a downpayment and closing cost assistance program called the Purchase Assistance Loan (PAL).
Pennsylvania - Pennsylvania Housing Finance Agency offers a HOMEstead program for up to $35,000 in downpayment and closing cost assistance in the form of a no-interest, second mortgage loan.
South Carolina - South Carolina State Housing also offers up to $4,000 to assist eligible borrowers with their down payment and closing costs.
South Dakota - the South Dakota Housing Development Authority (SDHDA). SDHDA will provide up-front downpayment and closing costs financing assistance for qualified low-income families who are first-time homebuyers.
Tennessee - TENNESSEE HOUSING DEVELOPMENT AGENCY, working through Partner Agencies, assists first-time home buyer families with $5,000 of down payment, closing cost and principal buy-down assistance
Texas - Texas Department of Housing and Consumer Affairs has the Texas First Time Homebuyer Program that offers income eligible homebuyers a grant equal to 5% of the mortgage amount.
Vermont - Vermont Housing Finance Agency's Cash Assistance Rate provides borrowers with funds to be applied towards downpayment and/or eligible closing costs as a Second Mortgage at a 0% interest rate.
Wyoming - From time to time, the Wyoming Community Development Authority is able to offer programs to assist homebuyers with a portion of their Down Payment and Closing Costs.
You may need to discuss your credit card debts with our certified and knowledgable counselors to see if you should get out of debt before you purchase a new home. (Provided by National Foundation for Debt Management)
Federal Home Loan Banks
The Federal Home Loan Banks (FHLB) are 12 regional cooperative banks that the member lending institutions use to finance housing and economic development in their communities.
The Member Banks offer the Down-Payment and Closing Cost Assistance, not the FHLB. To find grants available you first find the closest bank to you, then look at the programs they offer, finally find their Member banks on their website.
For example, the FHLB of New York offers the "First Home Club" (sm) which is a $4 matching program for every $1 saved. Great Program!
To find out where it is offered, look in their Membership List and call the closest bank to you and ask if they are offering the "First Home Club" and how to get enrolled.
Here is a list of the 12 FHLB Banks with the link to their grant programs offered to members, who offer it to you:
US Department of Housing and Urban Development
HUD has fantastic resources for your Home Ownership Grants and Downpayment Assistance
Most states have first time home buyer programs administered by their State Mortgage Finance Agencies. Most offer low cost loans in one form or another to assist the first time homebuyer. Below is a list of the state mortgage finance agencies name and web site for reference:
Alabama Housing Finance Authority www.ahfa.com
Alaska Housing Finance Corporation www.ahfc.state.ak.us
Arizona Department of Housing/Arizona Housing Finance Authority www.housingaz.com
Arkansas Development Finance Authority www.state.ar.us/adfa
California Housing Finance Agency www.calhfa.ca.gov
Colorado Housing and Finance Authority www.colohfa.org
Connecticut Housing Finance Authority www.chfa.org
Delaware State Housing Authority www.destatehousing.com
District of Columbia Department of Housing and Community Development dhcd.dc.gov
District of Columbia Housing Finance Agency www.dchfa.org
Florida Housing Finance Corporation www.floridahousing.org
Georgia Department of Community Affairs/ Georgia Housing and Finance Authority www.dca.state.ga.us
Hawaii Housing Finance and Development Corporation www.hawaii.gov/dbedt/hhfdc
Idaho Housing and Finance Association www.ihfa.org
Illinois Housing Development Authority www.ihda.org
Indiana Housing and Community Development Authority www.in.gov/ihfa
Iowa Finance Authority www.IowaFinanceAuthority.gov
Kansas Housing Resources Corporation www.kshousingcorp.org
Kentucky Housing Corporation www.kyhousing.org
Louisiana Housing Finance Agency www.lhfa.state.la.us
Maine Housing www.mainehousing.org
Maryland Department of Housing and Community Development www.dhcd.state.md.us
Massachusetts Department of Housing & Community Development www.state.ma.us/dhcd
Mass Housing www.masshousing.com
Michigan State Housing Development Authority www.michigan.gov/mshda
Minnesota Housing www.mhfa.state.mn.us
Mississippi Home Corporation www.mshomecorp.com
Missouri Housing Development Commission www.mhdc.com
Montana Board of Housing/Housing Division http://housing.mt.gov
Nebraska Investment Finance Authority www.nifa.org
Nevada Housing Division www.nvhousing.state.nv.us
New Hampshire Housing Finance Authority www.nhhfa.org
New Jersey Housing and Mortgage Finance Agency http://www.state.nj.us/dca/hmfa/
New Mexico Mortgage Finance Authority www.housingnm.org
New York City Housing Development Corporation www.nychdc.com
New York State Division of Housing and Community Renewal www.dhcr.state.ny.us
New York State Housing Finance Agency/ State of New York Mortgage Agency www.nyhomes.org
North Carolina Housing Finance Agency www.nchfa.com
North Dakota Housing Finance Agency www.ndhfa.org
Ohio Housing Finance Agency www.ohiohome.org
Oklahoma Housing Finance Agency www.ohfa.org
Oregon Housing and Community Services www.ohcs.oregon.gov
Pennsylvania Housing Finance Agency www.phfa.org
Puerto Rico Housing Finance Authority www.gdp-pur.com
Rhode Island Housing www.rihousing.com
South Carolina State Housing Finance and Development Authority www.schousing.com
South Dakota Housing Development Authority www.sdhda.org
Tennessee Housing Development Agency www.tennessee.gov/thda
Texas Department of Housing and Community Affairs www.tdhca.state.tx.us
Utah Housing Corporation www.utahhousingcorp.org
Vermont Housing Finance Agency www.vhfa.org
Virgin Islands Housing Finance Authority www.vihfa.gov
Virginia Housing Development Authority www.vhda.com
Washington State Housing Finance Commission www.wshfc.org
West Virginia Housing Development Fund www.wvhdf.com
Wisconsin Housing and Economic Development Authority www.wheda.com
Wyoming Community Development Authority www.wyomingcda.com