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Colibri Home Loans

Explore help with upfront homebuying costs

Down Payment Assistance Programs

Down payment assistance may help eligible buyers with a down payment or closing costs, but the first mortgage, assistance terms, and long-term costs should be evaluated together.

Understanding the option

Assistance is one part of a sustainable homebuying plan.

Down payment assistance can include grants, forgivable assistance, deferred second liens, repayable second mortgages, tax benefits, or education requirements. Availability often depends on location, household income, purchase price, occupancy, and funding.

We help you look beyond the headline amount. The first mortgage, assistance repayment terms, rate, payment, equity impact, resale or refinance restrictions, and post-closing budget all belong in the same comparison.

May includeGrants or secondary financing
Often depends onLocation and household eligibility
Best first stepCheck availability early
Homebuyers exploring down payment assistance options
Down Payment Assistance ProgramsCompare the complete picture before choosing the structure.

Qualification in context

Who it may fit—and what we review.

These are planning points, not universal approval rules. The selected program and complete borrower, property, and transaction determine eligibility.

01

This option may be useful for

  • Eligible buyers who need help with down payment or closing costs
  • Households that meet location, income, purchase-price, or occupancy rules
  • Buyers willing to complete required homebuyer education
  • Clients who want to compare assistance with a standard low-down-payment option
02

What the loan review may include

  • Program eligibility, property location, household income, and purchase price
  • Minimum borrower contribution and eligible sources of funds
  • First-mortgage rate, payment, mortgage insurance, and closing costs
  • Assistance repayment, forgiveness, second-lien, refinance, and resale terms

A practical process

From first conversation to a lender-ready plan.

  1. 01

    Define the purchase plan

    We start with your target price, property type, location, occupancy, timing, and the cash you want to keep available after closing.

  2. 02

    Review the complete file

    Income, assets, credit, debts, and documentation are reviewed together so the comparison reflects your real scenario.

  3. 03

    Compare useful options

    We explain estimated payments, cash to close, mortgage insurance or fees, and the tradeoffs among suitable programs.

  4. 04

    Prepare for the milestones

    After you choose a path, we help organize the application, appraisal, underwriting conditions, closing details, and next steps.

Down Payment Assistance Programs FAQs

Answers to the questions clients ask first.

Program details vary. These answers provide a starting point for a scenario-specific conversation.

Ask Us a Question
Is down payment assistance always free money?

No. Assistance may be a grant, a forgivable loan, a deferred loan, or a repayable second mortgage. Ask what happens when you sell, refinance, move out, or pay off the first mortgage.

Can assistance cover closing costs too?

Some programs allow eligible funds to help with down payment, closing costs, or both. Program limits, required borrower funds, seller credits, and first-mortgage rules determine the final structure.

Do I have to be a first-time homebuyer to qualify?

Not always. Some programs are limited to first-time buyers, while others focus on location, household income, occupation, or other eligibility rules. The exact program definition controls.

Compare the alternatives

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FHA Home Loans

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Conventional Home Loans

Flexible purchase and refinance financing for qualified borrowers.

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Important: This page is for general education and is not a commitment to lend, approval, rate quote, or legal or tax advice. Programs, rates, pricing, terms, and guidelines may change. All loans are subject to application, documentation, credit, underwriting, acceptable property review, and applicable law.