What first-time homebuyer programs and grants are available?

First-time buyers can tap a wide range of programs, most run at the state and local level through Housing Finance Agencies (HFAs). These commonly include down-payment assistance grants, low-interest second loans that cover down payment or closing costs, mortgage credit certificates (MCCs) that give a yearly federal tax credit on mortgage interest, and discounted rates. Federally backed FHA, VA, and USDA loans also lower the barrier with small or no down payments. "First-time buyer" usually just means you haven't owned a home in the past three years, so more people qualify than expect to. Eligibility often depends on income limits, the home's price, and completing a homebuyer education course. Start by searching your state HFA's website and asking lenders which programs they're approved to offer. Check your overall readiness at wealthserene.com/assessments/mortgage-readiness.