African American Home Buying Grants May 2026

The Neighborhood Assistance Corporation of America (NACA) offers a "Best in America" mortgage with no down payment , no closing costs, and no private mortgage insurance (PMI). Major Bank Initiatives

Provides $2,500 to $5,000 (higher in select markets) to cover closing costs or buy down interest rates. Regional Opportunities Building Black Homeownership with Down Payment Assistance african american home buying grants

Their Community Homeownership Commitment includes grants up to $10,000 for down payments and up to $7,500 in lender credits for closing costs. no closing costs

Modern initiatives often focus on "first-generation" buyers—those whose parents never owned a home—providing a vital bridge for families without generational wealth. 500 to $5