28 U.S. States Offering the Best Perks for New Homebuyers

Entering the housing market for the first time is a big step. It includes high expenses and difficult challenges to ensure you find the right home at the right cost. To make this process easier, some U.S. states have introduced different homeownership assistance programs that offer guidance and financial assistance to those who require it. Here are 28 U.S. states offering the best perks for new homebuyers:

Pennsylvania

The Keystone Home Loan Program of Pennsylvania provides first-time homebuyers and veterans with very reasonable interest rates and down payment support. In 2023, the program successfully helped 3,500 families and provided an average loan of about $180,000. It played a significant role in enabling individuals to achieve their homeownership goals, with 85% of these first-time buyers participating in the program.

North Carolina

The North Carolina Housing Finance Agency features a program known as the NC Home Advantage Mortgage. The program enables potential homeowners to request down payment assistance of up to 5% on the total loan amount. On average, first-time buyers received $7,500 through the program. Individuals in the middle-income bracket receive the most benefits from the program. About 60% of beneficiaries from the program receive less than the state’s median income level.

Utah

The Utah FirstHome Loan Program was introduced to assist first-time homebuyers with low to moderate incomes by providing fixed-rate loans and down payment assistance. About 2,800 individuals and families used this program in 2023 alone, with the average amount received being US$6,000. With the lowest average age of any state in the country, this program has helped to support young, first-time homebuyers entering the market.

Kentucky

The Kentucky Housing Corporation (KHC) offers down payment assistance programs that can reach as high as $ 6,000 for buyers who fit all the predefined criteria. This program has played an important role in making homeownership accessible to residents. The $45,000 average income of the households that benefited from the program indicates a direct participation of the program in helping families with low or moderate income achieve their goals of becoming homeowners.

Nevada

Nevada’s Home Is Possible program offers down payment assistance of up to 5% of the loan amount to qualified buyers. The program has enabled many residents of the states to enter the housing market, providing over 3,000 homebuyers with an average assistance of $10,000 in 2023. About 55% of the individuals who benefited from the program were from single-parent households, which highlights the program’s goal of supporting diverse family structures.

Virginia

The Virginia Housing Development Authority (VHDA) is a great initiative that assists Virginia residents in achieving their homeownership goals. The program is designed to provide down payment assistance grants that range from 2% to 2.5% of the purchase price for eligible first-time homebuyers. In 2023, VHDA assisted over 4,500 homebuyers with an average grant of $5,000. Approximately 65% of recipients were from rural areas, highlighting the program’s reach across the state.

Idaho

Idaho’s Housing and Finance Association offers various programs to first-time homebuyers looking to become homeowners. These programs include assistance with down payment and closing costs of up to 3.5% of the home’s purchase price. In 2023, IHFA assisted over 1,800 homebuyers, with an average assistance of $7,000. About 40% of the program’s beneficiaries were under 30, reflecting its goal of helping younger demographics.

Washington

The state of Washington introduced the Covenant Homeownership Program to address historical housing inequities. As of early 2025, the program facilitated the purchase of 247 homes, distributing $27.5 million in down payment assistance. Eligible individuals include Black, Latino, Indigenous, Pacific Islander, Korean, or Asian Indian, aiming to improve homeownership rates among these communities.

California

The California Housing Finance Agency (CalHFA) offers various programs for first-time buyers. These programs provide down payment assistance loans up to $10,000, helping many residents achieve their homeownership goals. In 2023, CalHFA assisted over 6,000 homebuyers with an average loan of $8,500. Approximately 58% of beneficiaries were from minority communities, reflecting the state’s diverse population.

Rhode Island

Rhode Island Housing’s FirstHomes100+ loan program has been influential in helping residents achieve their goals of homeownership. It offers 100% financing options and down payment assistance for first-time homebuyers. In 2023, the program assisted over 800 homebuyers with an average loan amount of $200,000, 70% of whom were women.

Ohio

The Ohio Housing Finance Agency (OHFA) has created programs that make homeownership more accessible to residents all over the state. It offers down payment assistance of up to 5% of the home’s purchase price for eligible buyers, assisting about $7,500. In 2023, OHFA assisted over 5,500 homebuyers, 62% of whom were first-time homebuyers, and 48% were from rural areas, indicating the program’s extensive reach across diverse demographics.

Missouri

The Missouri Housing Development Commission (MHDC) introduced the First Place Loan Program to assist homebuyers. The program provides affordable interest rates and down payment assistance to first-time homebuyers. Beneficiaries receive an average loan amount of $160,000. This amount has been influential in helping homebuyers, particularly young buyers, enter the market and achieve their homeownership goals. 

Georgia

The Georgia Dream Homeownership Program assists a diverse group of residents seeking homeownership. First-time homebuyers, public protectors, educators, and healthcare providers have access to down payment assistance of up to $7,500. The program has assisted thousands of homebuyers throughout the state, creating a much more accessible market.

Iowa

Iowa’s FirstHome Program makes homeownership more accessible by helping first-time homebuyers with down payment and closing costs, averaging about $5,500. Homebuyers from urban and rural areas of the state can maximize the program to enter the housing market and get closer to their homeownership goals.

Alabama

Alabama has introduced the Alabama Housing Finance Authority’s Step Up Program to offer residents a system that makes homeownership more accessible. The program provides down payment assistance and competitive interest rates, offering beneficiaries an average of $6,000. Moderate-income and first-time homebuyers have been the program’s main beneficiaries, as it focuses on providing these individuals with an easier route to homeownership. 

Mississippi

The Mississippi Home Corporation’s MRB7 Program was created to offer first-time homebuyers competitive interest rates and down payment assistance. In 2023, over 1,200 homebuyers used the program to reach their homeownership goals, receiving an average assistance of $7,000. Approximately 60% of beneficiaries were from rural areas, highlighting the program’s commitment to supporting homeownership across the state.

Oklahoma

The Oklahoma Housing Finance Agency (OHFA) has introduced different programs to make homeownership more accessible. The program’s beneficiaries receive an average loan of $5,500 to cover down payment costs. The program has been instrumental in helping individuals, particularly those from single-parent households, enter the housing market and become homeowners.

West Virginia

West Virginia Housing Development Fund’s Homeownership Program was designed to provide first-time homebuyers with access to affordable mortgage options and down payment assistance. On average, participants receive about $4,500, making it easier to meet the costs of buying a home for the first time. Approximately 68% of beneficiaries were from rural areas, reflecting the program’s reach across the state.

Indiana

The Indiana Housing and Community Development Authority’s First Place Program provides first-time homebuyers with down payment assistance and affordable interest rates. Over 2,500 homebuyers received an average assistance of $6,500 through the program, enabling them to cut down costs significantly. Of these, 62% were under 35, indicating the program’s appeal to younger buyers.

Nebraska

Nebraska has introduced the Homebuyer Assistance Program to provide low-to-moderate-income homebuyers better access to homeownership. The program provides assistance to cover down payment and closing costs, with beneficiaries receiving an average of about $5,000. In 2023, the program assisted over 1,300 homebuyers, and approximately 64% of beneficiaries were first-time homebuyers, reflecting the program’s focus on new homeowners.

Colorado

The Colorado Housing and Finance Authority (CHFA) has introduced programs that make homeownership more accessible to residents. The program offers down payment assistance grants of up to 4% of the loan amount to eligible homebuyers, averaging $8,000. In 2023, the program assisted over 3,700 homebuyers, with 59% of participants being first-time homebuyers.

Florida

The Florida Housing Finance Corporation offers the Florida Assist (FL Assist) program, providing up to $10,000 in down payment and closing cost assistance to eligible homebuyers. This assistance comes as a deferred second mortgage with 0% interest, requiring repayment only upon sale, refinancing, or if the home ceases to be the primary residence. Low- to moderate-income families across the state have been able to use the program to get closer to their homeownership goals.

Illinois

The Illinois Housing Development Authority (IHDA) offers the IHDAccess Forgivable program, providing down payment assistance of up to 4% of the purchase price, or a maximum of $6,000, as a forgivable loan. This loan is forgiven monthly for over ten years, provided the homeowner remains on the property. The program has been influential in helping homeowners cover expensive loan costs, making homeownership much more accessible to residents.  

Texas

The Texas Department of Housing and Community Affairs has introduced the My First Texas Home program to offer first-time homebuyers easier access to the housing market. The program offers competitive interest rates and down payment assistance up to 5% of the loan amount. Individuals in the program receive an average assistance of $7,200, which has been influential in making homeownership accessible to buyers. Approximately 58% of beneficiaries were from minority communities, highlighting the program’s commitment to diversity.

Hawaii

The Hawaii Housing Finance and Development Corporation (HHFDC) has introduced the Down Payment Assistance Program to help homebuyers make ownership more accessible. The program provides up to $40,000 or 5% of the purchase price (whichever is less) to eligible first-time homebuyers. This assistance comes as a 0% interest, deferred loan, repayable upon sale, transfer, or refinancing of the property. In 2023, the program assisted over 300 homebuyers, with an average assistance of $35,000.

New Jersey

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers a Down Payment Assistance Program that provides $10,000 as an interest-free, forgivable loan to eligible homebuyers. This loan is forgiven after five years, provided the homeowner remains in the property. Most of the program’s beneficiaries belong to low-to-moderate-income families, enabling homeownership to become more accessible to residents and first-time buyers.

Massachusetts

MassHousing provides down payment assistance of up to $25,000 for eligible first-time homebuyers in select communities and up to $15,000 in others. This assistance comes as a 15-year, fixed-rate loan at 1% interest. In 2023, the program assisted over 1,500 homebuyers, with an average assistance of $18,000. Approximately 55% of beneficiaries were from minority communities, reflecting the program’s commitment to diversity.

Kansas

The Kansas Housing Resources Corporation (KHRC) introduced the First Time Homebuyer Program to assist residents from all over the state in getting closer to homeownership. The program provides down payment assistance in the form of a soft second mortgage loan that is forgiven over time for an amount that averages $7,500. Many homebuyers in the state have benefitted from the program, highlighting the program’s reach across the state.

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