Federal Home Loan Grants
Buying a home is an important milestone in your life. Argent is proud to offer two Affordable Housing Programs that provide eligible low- to moderate-income families and individuals with grants of up to $12,500 to $15,000 toward their home purchase.
Contact UsAffordable Housing Programs Benefits
Contribute as Little as $1,000
Lower upfront costs help make homeownership more attainable.
Downpayment & Closing Cost Assistance
Reduce what you need to save and move into your home faster.
Two Great Program Options
Two program options help more buyers qualify for support.
Competitive Rates
Our low rates help you save money over the life of your loan.
First Time Homebuyer Program
To get started on a solid footing, this program was implemented to help first-time homebuyers achieve the dream of home ownership. Argent can help eligible first-time homebuyers access up to $12,500 to assist with the down payment and closing costs incurred when purchasing a home.*
- Maximum funding per household is $12,500
- Homebuyer must contribute at least $1,000
Community Partners Program
This program is specifically designed for individuals in the community who help others for a living. Home purchase assistance is available for current or retired law enforcement officers, educators, health care workers, firefighters, and other first responders; veterans and active-duty members of the military, or their surviving spouses; and COVID-related essential workers purchasing a home.** Argent can help homebuyers access up to $15,000 to assist with the down payment, closing costs, and rehabilitation costs incurred when purchasing a home.
- Maximum subsidy is $15,000
- Homebuyer must contribute at least $1,000
How to Apply for a Federal Home Loan Grant
To determine if you are eligible for one of these programs, contact a Mortgage Loan Officer today at 804.748.9488. Select Option 1 to begin the application process.
Mortgage Resources
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Mortgage FAQs
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Federal Home Loan Grant FAQs
What is a Federal Home Loan Grant?
A federal home loan grant is money provided to help qualified buyers cover the costs of purchasing a home. Grant funds are typically used for down payment assistance (DPA) or closing costs.
How does a Federal Home Loan Grant work?
Banks and credit unions partner with down payment assistance grant programs, like the Federal Home Loan Bank. When you apply for a mortgage, Argent will help you identify grants you may qualify for and assist with the application process. If approved, grant money is typically applied at the closing toward your down payment or closing costs.
Who is eligible for a Federal Home Loan Grant?
Eligibility requirements vary by program, but most are designed to assist first-time homebuyers and individuals or families within low- to moderate-income limits. Homebuyer assistance programs typically require that the home be used as your primary residence, and they may also require completion of a homebuyer education course.
Do I have to repay a Federal Home Loan Grant?
Federal Home Loan Grants usually don’t have to be repaid, as long as you meet the program’s requirements. Most grant programs require you to live in the home as your primary residence for 3-5 years. If you sell, refinance, or move out before that period ends, you may be required to repay part or all of the grant.
How much assistance is available?
The amount of first-time homebuyer grant assistance you can receive depends on the program and your eligibility. Argent members may qualify for grants of up to $12,500 to $15,000 toward a home purchase. The funds can be used to cover the down payment or closing costs, helping you become a homeowner sooner.
More Loan Options
Mortgage Refinancing
Don't settle for yesterday's loan. Refinancing may help you adjust your interest rate, term, or monthly payment.
Home Equity Options
Built up equity? Tap into it with our home equity loan or HELOC for a renovation project, large expense, life event, or other need.
Adjustable Rate Mortgage
An adjustable-rate mortgage offers a lower starting rate, which can reduce your payment and give you more financial flexibility.
Argent Credit Union is an Equal Housing Lender registered with the National Mortgage Licensing System under registration number 421982.
*First-time Homebuyer Program is a product of the Federal Home Loan Bank of Atlanta. Household income restrictions and other requirements apply.
**Community Partners Program is a product of the Federal Home Loan Bank of Atlanta. Household income restrictions and other requirements apply.
