Buying new construction? Many builders offer attractive first-time buyer incentives, such as paying all or part of your closing costs, offering rate buy-downs, or providing free appliance packages and upgrades. These perks can save you thousands and significantly reduce your out-of-pocket expenses—sometimes to almost nothing.

Cities, counties, and states often offer grants and forgivable loans to help first-time buyers with down payments and closing costs. These funds do not have to be repaid if program terms are met. Depending on where you live, this can cover a large portion—or even all—of your upfront costs, helping you transition from renting to owning with minimal financial strain.

Many lenders offer special first-time buyer programs that include credits toward your closing costs. These may come as part of a promotional offer, or be tied to using a preferred real estate agent or builder. In some cases, lender contributions can cover thousands of dollars in fees, helping you seal the deal on your new home with very little money out of pocket.