Bank Grants for Down Payment — Wells Fargo, Chase, and BofA Programs

Major national banks offer their own down payment assistance programs — and many Tampa Bay buyers do not know they exist. These bank-specific grants can provide $5,000 to $10,000 or more toward your down payment and closing costs, often with no repayment required.

Wells Fargo DPA Programs

Wells Fargo has offered several DPA initiatives in recent years. The Wells Fargo Homebuyer Access Grant provides up to $10,000 in select markets toward down payment and closing costs. This is a true grant with no repayment. The Dream. Plan. Home. program offers $5,000 in closing cost credits and is available to first-time homebuyers purchasing with a Wells Fargo mortgage. Availability and specifics change — check with a Wells Fargo mortgage consultant for current offerings in Tampa Bay.

Chase Homebuyer Grant

JPMorgan Chase offers the Chase Homebuyer Grant, providing up to $7,500 in select markets toward closing costs on Chase DreaMaker and Standard Agency mortgages. Tampa Bay may qualify as a designated market depending on Chase's current program parameters. The grant requires no repayment and no income limits in some versions.

Bank of America Programs

Bank of America offers multiple DPA options. The America's Home Grant provides up to $7,500 in lender credits toward closing costs with no repayment. The Down Payment Grant provides up to $10,000 toward the down payment in select markets with certain income requirements. These grants are available on BofA mortgage products and can sometimes be layered with other assistance.

How Bank Grants Compare to State DPA

Bank grants work differently from Florida Housing programs. They do not require working with a specific participating lender list — you work with the bank directly. They are often structured as true grants (no repayment ever), may have fewer restrictions than state programs, and may not require homebuyer education. However, you typically must use that bank's mortgage product, which may have a higher interest rate than what you would get through Florida Housing's below-market rate programs. A lender can run the total-cost comparison.

Can You Combine Bank Grants with Florida DPA?

Generally, no — because bank grants require using the bank's mortgage product, and Florida Housing programs require a Florida Housing-approved first mortgage. You typically choose one path or the other. However, some bank grants may be compatible with county SHIP funds — check with both the bank and your county housing office.

How to Find the Best Deal

The right choice depends on your specific situation — income, credit score, home price, and how long you plan to stay. Barrett Henry, REALTOR® with REMAX Collective, can connect you with lenders and bank representatives who offer these programs and help you compare total costs. With 23+ years of real estate experience, Barrett ensures you explore every available option.

Call Barrett at (813) 733-7907 to compare bank grants with Florida state DPA programs.