Can you use down payment assistance with a conventional loan?

Yes: 1702 of the 2,700-plus programs in the catalog name conventional financing among the loan types they can be paired with. Conventional financing is not government-insured, and many state housing finance agencies pair their assistance with a conventional product built for the purpose — Fannie Mae HomeReady and HFA Preferred, or Freddie Mac Home Possible and HFA Advantage. Those products set their own income limits and can carry different mortgage insurance terms than a standard conventional loan. The assistance program and the lender underwrite separately, and the lender must be willing to accept the assistance as a source of funds.

Hey Prescott maintains a catalog of active down payment assistance programs across all 50 states and DC, each verified against the administering agency's own published material and carrying the date it was last checked. The counts on this page are drawn from that catalog and refresh as it does.

No. Hey Prescott is an educational directory of down payment assistance programs. We list programs and link to official sources; we do not make loans or give individualized lending advice.