Helping You Get Closer to Home—With Less Money Up Front
Buying a home is one of the biggest investments you’ll ever make—but that doesn’t mean you have to do it alone. If saving for a down payment or covering closing costs feels out of reach, you’re not alone—and the good news is, there are local, state, and national programs designed to help.
At Tidewater Mortgage Services, we believe that everyone deserves access to homeownership—and we’re here to guide you through the programs that can make it possible.
Here are some of the top homebuyer assistance programs you should know about:
- Down Payment Assistance (DPA) Programs
Many first-time (and even repeat) buyers qualify for grants or forgivable loans that help cover all or part of the down payment. These are often offered by state housing agencies, local governments, or nonprofits.
How it helps:
- Lowers your out-of-pocket costs
- Some programs require no repayment if you stay in the home for a set period
Example:
- Virginia Housing (formerly VHDA): Offers DPA grants up to 2.5% of the home price for eligible borrowers
- North Carolina Housing Finance Agency: Down payment help through a deferred second mortgage
- National First-Time Buyer Programs
There are federal programs designed specifically for first-time buyers, which often allow low or no down payments, flexible credit guidelines, and additional financial help.
Top Programs to Ask Us About:
- FHA Loans: Down payments as low as 3.5%
- VA Loans: 0% down for eligible veterans and military families
- USDA Loans: 0% down for eligible rural areas
- Freddie Mac Home Possible / Fannie Mae HomeReady: Low down payment options for moderate-income buyers
- Closing Cost Assistance
It’s not just the down payment—closing costs can add thousands to your bottom line. Some programs offer specific help for these costs, either through grants or by allowing sellers/lenders to cover a portion.
Many local governments offer homebuyer assistance funds or tax credits that can be used to reduce these upfront costs. Ask our team what’s available in your area!
- Employer & Community-Based Programs
Some large employers, community banks, or even local housing nonprofits offer help for people who live and work in specific areas.
Tip: Teachers, first responders, healthcare workers, and public service professionals may qualify for exclusive homebuying incentives.
How Do You Know What You Qualify For?
That’s where we come in! At Tidewater Mortgage Services, our loan officers are trained to match you with the best assistance programs based on your income, location, job type, and credit profile.
We’ll help you:
- Determine which programs you’re eligible for
- Apply with confidence
- Structure your loan for maximum savings
Ready to Make Homeownership More Affordable?
Don’t let the down payment hold you back. There’s help out there—and we’re here to make sure you find it.
Reach out to our team today or visit tidewatermortgage.com to learn more about the homebuyer assistance options available to you.
Because your dream home may be closer than you think.
