Down Payment Programs or Grants

Down Payment Programs or Grants

A down payment grant or program typically refers to assistance provided by an organization such as a government or non-profit agency, to a homebuyer to assist them with the down payment for a home purchase. The funds may be provided as an outright grant or may require repayment, such as when the home is sold. Understand where you can get information on down payment programs and grants (cfpb.gov/ askcfpb/123). Earnest money buy a home. The deposit is held by a seller or third party like a real estate agent or title company. If the home sale is finalized or “closed” the earnest money may be applied to closing costs or the down payment.