: These are essentially gifts that never have to be repaid . Organizations like Bank of America offer specific grants that do not function as loans.

: These second mortgages do not require monthly payments. Instead, the full balance is due only when you sell, refinance, or pay off your primary mortgage.

: Some programs provide assistance as a standard second mortgage with a low interest rate. Unlike the other options, these require monthly payments alongside your primary mortgage. Key Benefits Mortgage Down Payment Center | Bank of America