06/12/2026
What is a down payment?
A down payment is the money a homebuyer pays upfront when purchasing their home.
Down payment assistance (DPA) helps you cover your down payment as a first-time home buyer. There are different types of down payment assistance you can combine to purchase your home. These include grants, forgivable loans, deferred-payment loans, low-interest loans, and matched savings programs.
There are down payment assistance programs that exist on the federal, state, county, and city level, as well as from private sources, and they can be layered and used together, as long as they are not from the same source.
Check out this down payment assistance resource from the Minnesota Homeownership Center: https://www.hocmn.org/partner-resources/guides-tools/down-payment-resource-tool/