How To Get Free Money To Buy A House May 2026

While these funds are often called "free," they come with specific strings attached:

: Assistance is usually reserved for low-to-moderate-income households, often capped at 80% to 120% of the Area Median Income (AMI) . how to get free money to buy a house

: Major banks offer proprietary grants for closing costs or down payments. For example, Bank of America offers grants up to $10,000 , and Chase provides up to $5,000 in eligible locations. Eligibility and Requirements While these funds are often called "free," they

: The HUD Good Neighbor Next Door Program offers a 50% discount off the list price for teachers, first responders, and law enforcement buying in designated areas. Eligibility and Requirements : The HUD Good Neighbor

: Many states offer true grants for first-time buyers that range from a few thousand dollars to 5% of the purchase price . These do not require repayment if you follow the program's residency rules.

"Free money" for buying a home typically refers to , which comes in the form of grants that never need to be repaid or "silent" second mortgages that are eventually forgiven. Common Ways to Get "Free Money" for a House

: You must live in the house as your main home for a specific number of years to avoid having to pay the money back. Where to Find Programs Near You Down Payment Resource: Down Payment Assistance