Income, location or purchase-price limits may apply
The details and documentation depend on the chosen loan program and your application.
Mortgage education
Down Payment Assistance
Programs that may help eligible buyers with upfront homebuying funds.
Talk With RustyWhat is it?
A clear starting point.
Down-payment assistance may provide eligible buyers with funds toward the down payment or closing costs. It can take the form of a grant, forgivable assistance or a repayable second loan.
How does it work?
The buyer must qualify for both the mortgage and the assistance program. Availability and requirements can change, so current details require review.
Who might consider it?
Start with your situation.
This is general education, not a promise of eligibility. Your complete financial and property picture must be reviewed.
Buyers who need help with upfront funds
First-time or repeat buyers who meet a program’s rules
Borrowers willing to compare assistance with non-assistance financing
Qualification considerations
What the review may include.
These are conversation points, not buttons. We will review each one as part of your complete mortgage plan.
Education or approved counseling may be required
The details and documentation depend on the chosen loan program and your application.
Minimum borrower contribution may apply
The details and documentation depend on the chosen loan program and your application.
The first mortgage must meet program rules
The details and documentation depend on the chosen loan program and your application.
Potential advantages
Why buyers may explore it.
- May reduce the cash needed at closing
- Can help qualified buyers purchase sooner
- Some programs pair with common first-mortgage options
Potential limitations
What deserves a closer look.
- Assistance may have repayment or occupancy conditions
- Rates, costs or choices may differ from other financing
- Funding and guidelines can change
Common mistakes
Plan before they become surprises.
A few early questions can prevent last-minute stress.
Assuming all assistance is free money
Looking only at cash-to-close instead of total cost
Waiting until under contract to check eligibility
Frequently asked questions
Simple answers to common questions.
Is assistance always a grant?+
No. Some assistance is repayable or forgivable only when conditions are met.
Is it only for first-time buyers?+
Not always. Each program defines eligibility.
Can anyone qualify based only on income?+
No. The mortgage and assistance requirements both apply.
Talk with a Loan Officer
Let’s see how this option fits your goals.
Bring your questions. I’ll help you understand the tradeoffs and next steps.