Key Takeaways
- Wells Fargo’s Homebuyer Access grant and Bank of America’s Down Payment Grant each go up to $10,000 toward a down payment in eligible areas.
- Bank of America’s America’s Home Grant and Citi’s Lender Paid Assistance each provide up to $7,500 toward closing costs or a rate buydown.
- The Chase Homebuyer Grant is $2,500 or $5,000 for primary-residence purchases in eligible census tracts.
As of November 2026, the largest bank homebuyer grants among Chase, Bank of America, Wells Fargo and Citi are up to $10,000 toward a down payment, from Wells Fargo (Homebuyer Access grant) and Bank of America (Down Payment Grant, up to 3% of the price). Bank of America and Citi also offer up to $7,500 for closing costs, and Chase offers $2,500 or $5,000. Each is available only in certain areas and generally requires you to finance with that bank.
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- Bank homebuyer grants compared
- Chase Homebuyer Grant
- Bank of America grants
- Wells Fargo grants
- Citi Lender Paid Assistance
- How to choose between bank grants
- How we got these numbers
- Bank homebuyer grant FAQ
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Bank homebuyer grants compared
Here is how the four banks’ programs line up, based on each bank’s own pages checked Nov. 10, 2026.
| Bank | Program | Amount | Where available | Key eligibility |
| Chase | Chase Homebuyer Grant | $2,500 or $5,000 | Select areas (eligible census tracts) | Primary residence in an eligible census tract; DreaMaker, Standard Agency, FHA or VA loan |
| Bank of America | Down Payment Grant | Up to 3% of price, max $10,000 | Select markets | First-time buyer (no ownership in 3 years); not available with all products |
| Bank of America | America's Home Grant | Up to $7,500 lender credit | Not specified on page | Qualified borrowers; for non-recurring closing costs or a permanent rate buydown |
| Wells Fargo | Homebuyer Access grant | Up to $10,000 | Certain areas | Primary residence; income limits by location; Wells Fargo fixed-rate conventional loan |
| Wells Fargo | Dream. Plan. Home. closing cost credit | Up to $5,000 | Certain areas | Primary residence purchase; income limits may apply |
| Citi | Lender Paid Assistance | Up to $7,500 | Citi Assessment Areas (markets with deposit-taking Citibank branches) | Primary residence purchase; income below 120% of area median or home in a low- to moderate-income tract; Citi-approved homebuyer class |
Chase Homebuyer Grant
Chase’s grant is $2,500 or $5,000 for buyers purchasing a primary residence in an eligible census tract, according to Chase. Chase’s education page describes eligible tracts as low- and moderate-income tracts or other selected tracts. The grant works with DreaMaker, Standard Agency, FHA and VA loans.
Chase applies the grant first to lower your interest rate, then to Chase fees or other fees, and any remainder can go toward the down payment on applicable loans. It does not have to be repaid. Chase’s DreaMaker loan, which allows 3% down, has income limits and requires homebuyer education if all occupying borrowers are first-time buyers.
For more detail, see our full guide to the Chase Homebuyer Grant and DreaMaker mortgage.
Bank of America grants
Bank of America offers two grants under its Community Homeownership Commitment, and the bank says both can be combined with its 3% down fixed-rate mortgage. Neither requires repayment.
- Down Payment Grant: Up to 3% of the purchase price, capped at $10,000, for first-time buyers (no homeownership in the past three years) in select markets.
- America's Home Grant: A lender credit of up to $7,500 for non-recurring closing costs, such as title insurance and recording fees, or for a permanent interest rate buydown.
The bank’s page refers to footnotes for qualifying details, and it doesn’t list specific income limits or qualifying areas. A lending specialist or the bank’s Down Payment Center can confirm whether an address qualifies.
Wells Fargo grants
Wells Fargo offers the Homebuyer Access grant of up to $10,000, which must be applied in full to your down payment. It is available only with Wells Fargo fixed-rate conventional loans, not government, non-conforming or adjustable-rate loans. Your current address or the home must be in an eligible area, income limits vary by location, and the home must be your primary residence.
Wells Fargo notes the grant may be taxable income reported on Form 1099-MISC and may affect income-based government benefits. Separately, its Dream. Plan. Home. closing cost credit provides up to $5,000 for one-time closing costs in certain areas, and the two can be combined.
Citi Lender Paid Assistance
Citi offers up to $7,500 in Lender Paid Assistance for primary-residence purchases, according to Citi. You qualify if your household income is below 120% of the area median family income or the home is in a low- to moderate-income census tract, and the property is in a Citi Assessment Area. You must also complete a Citi-approved homebuying class.
The money goes first to eligible non-recurring closing costs, with any remainder used to buy down your rate. It can’t be used for the down payment, prepaid escrows or interim interest, you can’t take cash back, and it can’t be combined with other Citi incentives. Citi pairs it with its HomeRun mortgage, which allows as little as 3% down (5% in some high-cost areas) with no private mortgage insurance.
Compare lenders in your area. Start here
How to choose between bank grants
Start with your address. Every program here is limited to certain areas or census tracts, so the first question is which banks offer a grant where you are buying. Then compare what each grant pays for:
- If you need down payment money, the Wells Fargo and Bank of America down payment grants are the only ones here aimed at the down payment itself.
- If you have the down payment but need closing cost help, compare Bank of America’s America’s Home Grant, Citi’s Lender Paid Assistance and Wells Fargo’s closing cost credit.
- Look at the full loan cost, not only the grant. A grant is tied to that bank’s mortgage, and your rate depends on your credit, down payment, property and lender.
- Ask whether the grant can be combined with state or local down payment assistance.
Bank grants are one source of help. State housing agencies and local programs often offer larger amounts; see our guides to first-time home buyer grants and grants to buy a house.
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How we got these numbers
We read each bank’s own program page on Nov. 10, 2026: Chase’s Homebuyer Grant page and education article, Bank of America’s affordable housing programs page, Wells Fargo’s affordable homebuying options page, and Citi’s HomeRun page on Mortgage.com, a Citi site where citi.com mortgage pages now redirect. We included only programs we could confirm on the bank’s site.
Bank homebuyer grant FAQ
Sources: Chase, Homebuyer Grant; Chase, Chase Homebuyer Grant (education article, Apr. 27, 2026); Bank of America, Affordable Housing Programs; Wells Fargo, Affordable Homebuying Options; Citi, Citi HomeRun Mortgage (Mortgage.com).
