Homeownership can feel like a distant dream, especially with rising costs. But don’t worry—there are programs across the U.S. designed to make owning a home more attainable. From substantial down payment assistance to affordable mortgage options, here’s a roundup of initiatives that can help you step into your new home.
🏡 Norfolk, Virginia: Up to $60K in Assistance
Norfolk’s HOME Investment Partnership Program offers eligible first-time homebuyers up to $60,000 in down payment and closing cost assistance. The best part? It’s 100% forgivable if you live in the home for at least 10 years.
- Contact: Visit NRHA.us for more information.
🏠 NACA: No Down Payment, No Closing Costs
The Neighborhood Assistance Corporation of America (NACA) provides a mortgage program with no down payment, no closing costs, and no private mortgage insurance. It’s designed to make homeownership accessible for low-to-moderate-income individuals.
- Contact: Call (425) 602-6222 or visit naca.com to learn more.
🌽 Nebraska: Assistance for Homebuyers and Farmers
The Nebraska Investment Finance Authority (NIFA) offers programs for first-time homebuyers, including down payment and closing cost assistance. Additionally, beginning farmers can access resources to help purchase land and equipment.
- Contact: Explore options at nifa.org or call (800) 204-6432.
🏙️ Baltimore, Maryland: Multiple Incentives Available
Baltimore offers several programs to assist homebuyers:
- Direct Homeownership Assistance Program: Provides financial incentives for purchasing a home in Baltimore City.
- First-Time Homebuyers Incentive Program: Offers additional support for first-time buyers.
- Contact: Call (410) 396-3124 or visit livebaltimore.com for more details.
🗽 New York City: Up to $100K for First-Time Buyers
The HomeFirst Down Payment Assistance Program provides up to $100,000 for down payment or closing costs to eligible first-time homebuyers in NYC. Applicants must complete a homebuyer education course and meet income requirements.
- Contact: Visit nyc.gov or call 212-863-7990.
🌾 Nationwide: USDA Farm Ownership Loans
For those interested in rural living, the USDA offers Farm Ownership Loans with up to 100% financing to help purchase or expand family farms. Loans can also be used to improve farm operations.
- Contact: Learn more at fsa.usda.gov.
Final Thoughts
Homeownership is within reach, thanks to these programs designed to assist with down payments, closing costs, and more. Whether you’re buying your first home, seeking to settle in a new city, or looking to start a farm, there’s support available to help you achieve your dream.
Know of other programs or have experiences to share? Drop them in the comments and let’s help each other navigate the path to homeownership!
Follow MEFeater on Twitter, Instagram, Facebook, and Pinterest for more Money Matters and financial tips!
