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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Additional Information on Homebuyer Assistance Programs

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What Are Homebuyers Assistance Programs?

There are a number of different programs available to help first-time homebuyers. For example, in an Individual Development Account (IDA) program, participating organizations match your savings contributions to help you save for a down payment or closing costs.

These programs typically require that you complete financial education classes.

Many cities and local governments offer homebuyer assistance programs, especially for people with lower incomes. Financial institutions may also offer special loan products to help you become a homeowner.

HUD Approved Counseling Agencies

Characteristics of Government Programs

Federal, state, and local governments offer many types of home loan programs. Federal Housing Administration (FHA) and Veteran Affairs (VA) are just a few of the many home loan programs offered by the Federal Government. Each home loan program has specific eligibility requirements, and not everyone will be eligible.

Benefits of these programs vary, but may include:

Some restrictions to these programs may include purchase price limitations, service charges, and higher loan origination fees.

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