First-time homebuyer programs by state

Exploring local and national first-time homebuyer assistance programs is an important step on the path to homeownership.

Many state housing authorities combine the cost of closing and down payment assistance programs with mortgages that have favorable interest rates. Some states even offer tax credits that you can use on your federal income tax return. These first-time homebuyer assistance programs increase buyers’ chances of owning homes in particular geographic areas, or assist borrowers in certain professions, such as educators, first responders, or active duty military and veterans.

” FIND: Best Mortgage Lenders for First Time Home Buyers

Buying a first home is a big deal, so it’s natural to feel a bit overwhelmed. See our Tips for First Time Home Buyers for an overview of what to do, mistakes to avoid, and links to more resources.

NOTE: Due to the coronavirus outbreak, obtaining a mortgage can be challenging. Lenders are dealing with demand and personnel issues. For the latest information on how to deal with financial stress during this emergency, check out NerdWallet’s COVID-19 financial guidance.

Find First Time Home Buyer Programs and Lenders in Your State





Other Resources for First-Time Home Buyers

In addition to exploring locals and national first-time homebuyer programs, you will also want to calculate how much house you can afford, prepare your credit and learn about the home loan landscape, where hundreds of banks, credit unions and mortgage companies compete.

Lenders vary based on loan offers, customer service, credit requirements, and fees. Understanding your options will help you settle down. See our 5 Tips for Finding the Best Mortgage Lenders Learn more.

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