Last updated: August 2026
First-time buyers & DPA
Preparation, assistance options, gift funds, cash to close, and comparing DPA with other financing paths.
Questions this category answers
Built around real conversations.
This section is for buyers who want a realistic plan for down payment, closing costs, assistance, gifts, and cash left after closing. First-time-buyer status and DPA eligibility are program-specific; neither should be guessed from a headline.
Begin with the minimum-down and cash-to-close articles, then compare assistance terms with a loan that does not use DPA. A larger assistance amount is not automatically the strongest long-term structure.
Related mortgage programs
Published answers
Complete answers, one question at a time.
Choose the question that sounds most like yours. Each article explains the answer, what may change by scenario, and the next details worth reviewing.
How Much Should I Put Down on a Home? How to Decide
The right down payment balances monthly cost, cash reserves, program eligibility, and the rest of your financial plan.
Read the answerCan Gift Funds Be Used to Buy a Home?
Many primary-residence programs allow eligible gifts for down payment or closing costs when the donor and transfer are properly documented.
Read the answerHow Much Money Do I Need to Buy a Home?
Cash to close includes more than the down payment and should be calculated with real property, insurance, tax, and loan information.
Read the answerIs Down Payment Assistance a Grant or a Loan?
Down payment assistance can be a grant, forgivable loan, deferred second mortgage, or repayable loan depending on the program.
Read the answerWho Qualifies as a First-Time Homebuyer?
The definition varies by program, and some buyers who owned a home years ago may still qualify as first-time buyers.
Read the answerDo I Need 20% Down? Minimums by Loan Program
No. Several mortgage programs allow less than 20% down, and eligible VA borrowers may have a no-down-payment option.
Read the answerHave a question for this category?
Kelly uses real borrower and Realtor questions to decide which educational articles should be published next.