Down payment assistance is money from a housing agency, or a program that works with government agencies, toward your down payment and, in some programs, closing costs, usually as a second loan with its own terms. It can cover some or all of your down payment. See the programs we work with and estimate what you may be eligible for.
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Fidelity Residential · NMLS #103098 · Equal Housing Lender
Down payment assistance is money from a housing agency or a program that works with government agencies, used toward the cash you need to buy a home. You still take a regular first mortgage; the assistance comes with it at the same closing.
In most programs the assistance is a second loan, recorded behind your first mortgage. It is not free money: it is either repaid or, if you meet the program’s conditions, forgiven.
Each program has its own rules on credit, income, the price of the home, the type of first mortgage and where you buy. The estimator below checks the main ones for you.
Answer each question; where you are not sure, choose “Not sure”. Then tell us who you are, and you get a “may fit”, “ask us” or “probably not” for each program, with the reasons. New Jersey programs are shown for information.
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Next step: talk to a licensed loan officer, who checks the programs against your full details.
This is an estimate based on the information entered and the programs’ published rules. It is not an offer of credit, a commitment to lend, or a determination of eligibility. Programs, funding and terms change without notice; final eligibility is decided by the program and underwriting.
The key public rules, in plain words. Each program sets its own full rules, and its funding can change.
For buyers using an FHA loan who want help with the down payment and closing costs. Available in most states.
For FHA buyers who want help with the down payment and closing costs, with no income limit.
For FHA buyers who want help that can be forgiven after three years in the home. Run by a non-profit public benefit corporation.
From the Nevada Housing Division, for first-time and repeat buyers anywhere in Nevada.
For buyers who have not owned a home in the past three years (with exceptions in targeted areas and for some veterans).
For licensed full-time K-12 public school classroom teachers in Nevada. Available through December 31, 2026.
For people working full time in health care, education, public safety or construction jobs the program lists, who have lived in Nevada for at least six months.
New Jersey Housing and Mortgage Finance Agency (NJHMFA) programs are offered only through lenders that NJHMFA approves as participating lenders. Fidelity Residential is not an NJHMFA participating lender at this time, so we cannot offer these programs yet. We list them so you know they exist; NJHMFA can pair you with a participating lender.
For first-time buyers of a main home anywhere in New Jersey.
For first-time buyers whose parents or guardians own no home or other residential property, or anyone who has ever been in foster care in New Jersey.
A fixed-rate, government-insured first mortgage for first-time buyers, which can be paired with the down payment assistance.
A fixed-rate, government-insured first mortgage for first-time buyers, with its own income limits by county, which can be paired with the down payment assistance.
A fixed-rate conventional first mortgage from NJHMFA, which can be paired with the down payment assistance.
A purchase loan for active members of the Police and Firemen’s Retirement System with at least one year of service. It is a first mortgage, not down payment assistance.
From the Michigan State Housing Development Authority, with its MI Home Loan, for buyers within its income and price limits.
For FHA buyers in Washington, where the National Homebuyers Fund is not offered.
A loan officer reviews your income, savings, credit and price range, and which programs fit the home and the area.
You apply for the first mortgage and the assistance together. Because the assistance is a loan, you get its own loan estimate.
The loan is registered with the program, which confirms its funding before closing. Take the education course if your program asks for one.
You sign the first mortgage and the assistance at the same closing. Afterwards, follow your program’s rules for repayment or forgiveness.
A worked example, in words. Say you are buying your first home, a house you will live in, with an FHA loan. You have savings for part of the cash, and a parent wants to help.
The mortgage payment calculator gives a first estimate of the payment with your own figures. It is an estimate, not an offer. More on the first mortgage: how FHA loans work.
Most buyers can start with these. FHA’s automated findings and the program’s own rules may ask for more.
No. It is usually a second loan. Some programs forgive it after you meet their conditions, such as living in the home for a set time; others are paid back monthly, or when you sell or refinance.
Not always. Chenoa Fund, Arrive Home, the National Homebuyers Fund, the Washington program and several Nevada programs have no first-time buyer rule. MSHDA and most NJHMFA programs are for first-time buyers, with some exceptions.
In most programs, whatever has not been forgiven or paid off is repaid when you sell or refinance. Your loan officer explains your program’s rules before you sign.
Often, yes. Several programs allow a documented gift alongside their assistance. Each program sets its own rules, so ask us before you plan on it.
No. It is an estimate from what you entered and the programs’ published rules. The program and underwriting decide final eligibility, and program funding and terms can change.
Yes. FHA allows assistance from a government body or an eligible nonprofit, as HUD allows, usually as a second loan recorded behind the FHA first mortgage, and most of the programs we work with are built around FHA loans. Chenoa Fund, Arrive Home and the National Homebuyers Fund, listed above, are all for buyers using an FHA loan.
Under HUD’s FHA rules, a second loan on the home can come from a government body or an eligible nonprofit, as HUD allows. A relative or another allowed donor can also give a documented gift, and the seller may pay part of your closing costs, up to a limit HUD sets. FHA itself does not lend the money; it insures the lender against loss.
It depends on the program. Assistance can cover some or all of your down payment and, in some programs, part of your closing costs. Each card above states its program’s amount in the program’s own terms, and the estimator shows which programs may fit you.
Yes. Every FHA loan carries two mortgage insurance premiums: an upfront premium, usually added to the loan, and an annual premium paid with your monthly payment. Your loan estimate shows both in dollars. See how FHA mortgage insurance works.
If it has a monthly payment, yes: that payment is added to what you pay each month, and it counts when the lender looks at your debts against your income. A second that is repaid later, when you sell or refinance, adds no monthly payment, but the full amount is still owed at the end. See forgivable or repayable assistance.
Some programs ask for one. On the cards above, Chenoa Fund asks for a course when your credit score is below the level it sets, and the National Homebuyers Fund asks one buyer to take it. You take it before closing, and your loan officer tells you where.
Some agencies offer programs that also work with VA, USDA or conventional loans. Most of the programs we work with today are built around FHA loans.
Not for the New Jersey agency’s programs yet. New Jersey Housing and Mortgage Finance Agency (NJHMFA) programs are offered only through lenders that NJHMFA approves as participating lenders. Fidelity Residential is not an NJHMFA participating lender at this time, so we cannot offer these programs yet. We list them above so you know they exist; NJHMFA can pair you with a participating lender. For the FHA loan itself on a New Jersey home, see FHA loans in New Jersey.
Fidelity Residential is licensed in many states. The full, current list is on NMLS Consumer Access (opens in a new tab), or call us at 732-686-9999.
Sources: U.S. Department of Housing and Urban Development, HUD-approved nonprofit organizations and governmental entities: secondary financing for FHA-insured mortgages (opens in a new tab); Fannie Mae, Selling Guide B5-5.1-02, Community Seconds loan eligibility (opens in a new tab); Freddie Mac, Down payment assistance programs (opens in a new tab). Facts are stated in our own words.
Get a quote, apply online, or talk it through with a licensed loan officer.
This page is general information, not a commitment to lend. Programs, terms and eligibility depend on credit, income, property and underwriting review and are subject to change without notice.
Reviewed by Robert Shamie, CEO, NMLS #241428 · Last reviewed:
Fidelity Residential (PFN Lending Group, Inc., NMLS #103098) is a direct mortgage lender licensed in 40 states and the District of Columbia, with 26 years in business.