While there is a lot of uncertainty around the housing market in 2025, affordability remains a top challenge for homebuyers — especially first-time buyers. According to a 2025 Bankrate survey, many cite upfront costs as the biggest barrier to homeownership. A 2023 LendingTree study shows that while 39% of homebuyers nationwide use financial assistance, about 22% turn to friends and family for help instead of tapping into local resources.
Here’s how homebuyers in Washington, D.C., can access assistance programs and address some of the upfront costs of purchasing a home.
What are my down payment assistance program options?
Down payment assistance programs aim to make housing more affordable and can be used to offset upfront costs. Options, which range from government and municipal programs to nonprofits and local lenders, include:
- Grants: Homebuyers can receive funds to put toward a down payment. These may also cover closing costs and can sometimes be combined with other forms of assistance. For example, Chase offers a grant of up to $5,000 when purchasing homes in 15,000 eligible areas nationwide, including qualifying neighborhoods in Washington, D.C.
- Forgivable loans: Also known as second-mortgage down payment programs, these low- or no-interest loans may be forgiven if certain conditions are met. In many cases, borrowers must continue to own and live in the home for a set period to avoid repayment.
- Deferred-payment loans: Typically zero- or low-interest, these loans help cover down payment and closing costs. Payments are usually deferred until the home is sold or the mortgage is refinanced. If the loan is zero-interest, repayment may only equal the original borrowed amount.
- Low-down-payment loans: Outside of assistance programs, lenders and agencies offer low-down-payment mortgages with flexible credit requirements. Chase’s DreaMaker mortgage and government-backed loans such as FHA or standard agency loans may allow buyers to put down as little as 3%.
How do homebuyers know if they qualify?
Eligibility depends on several factors, including credit score, debt-to-income ratio, household income, family size and completion of a homebuyer education program. Some programs also cap the home purchase price.
Each program has its own application process. Local real estate or mortgage professionals can help you understand available options. Prospective buyers can also use the Chase Homebuyer Assistance Finder to identify programs at the local, state and lender levels.
Mortgage calculators can help you estimate affordability, and mortgage professionals can provide tailored advice and financing strategies.
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