Zillow Home Loans' Down Payment Assistance Program Terms and Conditions

Zillow Home Loans (or “we”) is offering a down payment grant equivalent to 2% of the purchase price (“Grant”) to qualifying borrowers who apply and close their loan with Zillow Home Loans. Borrowers must be able to contribute a minimum of 1%, but no more than 3%, of purchase price toward a down payment to receive the Grant.

Borrower Eligibility. To be eligible for the Grant, the borrower must:

• Have 80% or less of the area median income* based on the county where the property is located at time of application and closing;
• Have a minimum qualifying FICO Score of 620;
• Intend to occupy the property as their primary residence;
• Contribute an initial down payment of at least 1%, but no more than 3%, of the purchase price;
• Complete a Homeownership Education course from a qualified provider** or a HUD-approved non-profit counseling agency prior to closing;
• Be a first-time homebuyer;
• Meet any additional underwriting requirements, if applicable, for this conventional loan product.
• Borrower must be working with an eligible partner agent for eligible properties located outside the state of Arizona.

Property and Loan Eligibility. Only single family residences, including eligible condominiums and PUDs purchased with a conforming conventional loan. Loan must close as a Fannie Mae HomeReady® loan. Eligible property must receive satisfactory appraisal and/or appraisal review, including condition and valuation, and meet underwriting criteria for applicable loan program. Multi-unit residences, co-ops, mobile, and manufactured homes are not eligible (“Ineligible Properties”). Subject properties must be located in state of Arizona, with application date on or after 8/17/2023; or within California, Delaware, Georgia, Maryland, New Jersey, Pennsylvania, Texas, Virginia, Washington D.C., and West Virginia, with application date on or after 7/31/25. For eligible properties located outside the state of Arizona, loan amount may not exceed $350,000.00. Please speak with a loan officer today to confirm property and loan eligibility. Zillow Home Loans reserves the right to change location requirements for property eligibility at any time.

Restrictions and Limitations. Grant may not be combined with any other discounts or promotions, except for no-cost appraisal offered by Zillow Home Loans. Grant is not available in connection with additional lender credits or other down payment assistance programs. Grant cannot be retroactively applied to loans that have an application date prior to dates listed above. This is not a commitment to lend. Terms are subject to change at any time without notice at Zillow Home Loans’ sole discretion and are subject to state restrictions. Additional restrictions/limitations may apply.

^*You may look up the property’s area median income by accessing the Fannie Mae Lookup tool. https://ami-lookup-tool.fanniemae.com/amilookuptool/

**A qualified provider must be independent of the lender, with homeownership education content that is aligned with National Industry Standards (NIS) or is offered by a housing counseling agency approved by the U.S. Department of Housing and Urban Development (HUD). Fannie Mae HomeView® can be used to satisfy the homeownership education requirements. Please speak with a loan officer for more information.