Down Payment Grants

Down Payment Grants is sponsored by Greenline Housing Foundation. Offers down payment grants to qualified Black and Hispanic first-time homebuyers.

Down Payment Grants – Greenline Housing Foundation Start building your legacy. One of the biggest passages of wealth from generation to generatioin occurs through homeownership. One of the ways Greenline is reversing the effects of redlining and housing discrimination is by providing down payment grants to qualified Black and Hispanic people.

In order to qualify for our downpayment grant program, applicants must meet the eligibility criteria below. Please keep in mind that meeting the eligibility criteria is not a guarantee of receiving a grant. Grants are determined based on funds available.

Be a Black or Hispanic person Be a first-time homebuyer (or, if an applicant previously owned a home but no longer does, there is space to explain why on the application) Not have liquid assets in excess of $100k Agree not to sell or take equity out of home for 5 years Complete of 10 hours of financial education courses through Greenline Housing Foundation Purchase a single-family home, condo, townhome, or an owner-occupied multi-unit property that is 4 units or less Purchase a property used as the primary residence Meet income requirements consistent with amount of loan pre-approval (an applicant must be pre-approved with a lender before they apply to Greenline.

If an applicant does not have a lender, we can connect them with one of our lender partners.)

Must have already saved at least 1% of preapproval amount toward a down payment Application Process Timeline Begin financial ed, receive program details & invitation to apply Complete and submit within the 1-month window All applications are thoroughly reviewed by our team All applicants are notified of our grant decisions Grant monies are wired directly to escrow *If you submit your interest form during a current application cycle you will be invited to apply for the NEXT application cycle.

If you have a question about our process that is not answered here, please feel free to contact us at info@greenlinehousing. org . Once I apply, how long does it take to receive an answer?

Applicants are made aware of the award decision within 3 months after the application deadline. If approved, how is my grant amount determined? The down payment grant amount can be up to 10% of the pre-approved purchase price amount.

Home maintenance grants are determined by verified scope of work needed. Ultimately, all grant amounts are predicated on the availability of funds at the time of approval. If I am approved for a down payment grant and find a home, how do I receive the funds?

Grant funds are wired directly to escrow at time of closing. Does the grant have to be repaid? No, grants funds do not have to be repaid and are considered gift funds.

Yay! If I receive a grant and purchase a home, can I sell my home within 5 years if I purchase another home with the funds? Yes, as long as it’s for a primary residence.

Are there income limits to be eligible for this grant? There are no income limits. We believe that strong incomes should not make applicants ineligible, and instead we aim to close the racial wealth gap by aiding those that have been disproportionately impacted by systemic racism in housing such as Black and Hispanic populations.

As such, we do not have income restrictions, we have asset restrictions. What does my lender need to know? While we are happy to work with all lenders, it is important that they accept our grant.

If a grant is awarded, we will send you a copy of the grant terms and conditions that you can send to your lender. For additional questions, please reach out to info@greenlinehousing. org.

Interested applicants can join our waitlist here. When the next application cycle opens on either March 1, June 1, September 1, or December 1, you will be sent a personalized application link to submit the required information and documents. How long do I have to use the grant?

Grant recipients have 6 months from the date of the awarded grant to use their grant. We’d love to hear from you Reach out to us! Send us a message about partnership opportunities or any questions you may have about our work.