Core Insights - The primary challenge for homebuyers is the down payment, which can take years to save for, making homeownership aspirations difficult to achieve [1] - Down Payment Assistance (DPA) programs are available but often go unnoticed by potential buyers [1] Group 1: Down Payment Assistance Programs - As of Q4 2025, there are 2,619 homebuyer assistance programs in the U.S., representing a 6% increase from the previous year, with an average benefit of $18,000 per borrower [2] - DPA programs are expanding and becoming more flexible, with higher income limits and options for repeat buyers, military personnel, and various property types [4] - DPA programs can significantly improve borrower eligibility and loan quality by lowering loan-to-value ratios and covering upfront costs [4] Group 2: Home Sales and Affordability - The national median existing-home sales price was $405,400 as of December, while the average 30-year fixed mortgage rate is above 6%, complicating the ability of buyers to afford down payments and closing costs [3] - Buyers may need to provide 3% to 5% of the home's purchase price for a down payment, plus an additional 2% to 6% of the loan amount for closing costs [3] Group 3: Types of Assistance - DPA programs generally fall into two categories: forgivable grants and repayable second mortgages [5] - Forgivable grants do not require repayment if certain conditions are met, such as residing in the home for a specified period [6] - Repayable assistance typically involves a second mortgage, which must be repaid but covers 100% of upfront costs, leaving only closing costs to manage; 56% of DPA programs are second-mortgage types [7]

RT Uché Perkins Sr. (@JustAFamilyMan_)First, I used the MMP, which is a state run program that helps first time homebuyers with down payment and closing cost assistance. Through MMP, I was able to get grants from local, state, and federal sources. ...