Buying your first home is one of life’s biggest and most exciting milestones but it can also feel overwhelming, especially when it comes to the upfront costs. The good news? There are more programs, grants, and credits available today than most people realize. If you’re a first-time buyer, you may be able to tap into thousands of dollars in assistance to make homeownership easier and more affordable.

Let’s walk through a few of the most helpful programs available right now nationally and locally so you can move forward with confidence.

Fannie Mae’s First-Time Homebuyer Grant

Fannie Mae offers a powerful program that can provide qualified first-time buyers up to $2,500 toward their home purchase. This grant can be used directly to reduce out-of-pocket costs, which is a huge help when you’re trying to save for closing.

To qualify, you’ll need to meet a few key requirements:

• Income limits apply (your income must fall within specific area median income guidelines).
• The home must be your primary residence.
• You’ll access reduced mortgage insurance costs and enhanced interest rates, which help keep your monthly payment lower.

This option is especially helpful for buyers who are close to qualifying but need just a little extra boost.

Freddie Mac’s 2% Down Payment Assistance Grant

Freddie Mac offers another fantastic option particularly for those who may not have owned a home recently.

This program includes:

• A grant equal to 2% of the purchase price,
• Up to a maximum of $7,000,
• Available only to true first-time buyers, meaning you haven’t owned a home within the past three years.

This grant can be applied directly to your down payment, significantly reducing the amount you need to bring to closing. For many buyers, this is the difference between “someday” and “right now.”

Pennsylvania’s First-Time Homebuyer Grants

Pennsylvania offers statewide grant assistance as well, though availability can vary. These funds are limited, and once they’re fully allocated for the year, they’re gone until the next cycle. That means timing is everything.

For buyers in PA, it’s important to connect with a knowledgeable loan originator who can check current availability and guide you through the requirements.

Wayne County Local Grant Program

This one is a hidden gem and a pleasant surprise for many local buyers!

Wayne County offers an assistance program for qualifying first-time buyers. Some of the highlights include:

• You must have lived in Wayne County for at least 30 months
• Additional qualification steps may apply
• The program is administered locally through the county

For the most accurate and up-to-date details, reach out directly to:
Andrew Seder – 570-253-5970

He can walk you through eligibility and next steps.

Final Thoughts: You Have Options More Than You Think

The bottom line? Today’s first-time buyers have access to a wide range of grants and credits that can make homeownership more affordable than ever. These programs change often, and each one comes with specific guidelines, so your best first step is to speak with a knowledgeable loan originator who can help you determine what you qualify for.

If you’re thinking about buying your first home or if you’re not sure where to start I’m here to guide you. Together, we can explore your options, match you with the right program, and create a clear path to the home you’ve been dreaming of.

Whenever you’re ready, let’s talk. You’ve got this!