A collection of programs that provide grants or low-cost assistance for down payments and closing costs, helping buyers—especially first-time homeowners—bridge the gap to ownership.
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First-time homebuyer and down payment assistance (DPA) programs are designed to help buyers overcome one of the biggest barriers to homeownership: the upfront cash required for a down payment and closing costs. These programs may offer grants, forgivable loans, or “silent seconds” that don’t require repayment as long as certain conditions are met. Many DPA programs can be paired with FHA, VA, USDA, or even conventional loans, making them a flexible tool for creating an affordable path to homeownership. They’re typically offered through state or local housing agencies, with eligibility often based on income, location, or first-time buyer status. For buyers who are ready to own but short on savings, these programs can make the dream of homeownership a reality sooner than expected.
These programs remove the single biggest hurdle for many buyers—the down payment—by providing financial assistance that can be combined with standard loan options. This means you can keep more of your own funds for moving costs, renovations, or savings while still qualifying for a mortgage. By leveraging these resources, you can enter the market faster, compete more effectively with other buyers, and take advantage of favorable rates before conditions change. For many, this is the bridge between renting and owning.
Elliman Capital partners with a variety of state and local DPA programs to match buyers with the right fit. Our lending specialists will guide you through eligibility requirements, available funding sources, and how to layer assistance with your chosen mortgage. Start with our quick online application, and let us show you how the right combination of programs can turn your homeownership plans into reality.
