Nick Perry breaks down a 2026 first-time homebuyer grant that covers your entire 3.5% down payment as a forgivable loan. On a $450,000 home, that's $15,750 you don't have to save or repay. You need a 620 credit score, it's for primary residences only, and you can use it once.
You no longer need to save for 10 years before you can buy your first house because there's a 2026 first-time buyer grant that covers your whole 3.5% down payment. And that's not even the best part. It's a forgivable loan, which means that you don't have to pay it back. So on a $450,000 house, you get a $15,750 grant. But what's the catch? Well, there is no catch, but there are requirements, and those are that you need a 620 credit score. It has to be used on your primary residence, and you can only use this loan once.
