By Walecia Konrad

(Last Updated – 06/2025)

The Louisiana housing market is a welcoming one. The average home value is $208,234, and has held fairly steady year over year, according to Zillow. Compare this to the national figure of $367,711, which is up 1.4% over the past year.

But just because home prices may be lower than in some other areas of the U.S. doesn’t mean that buying a first home is necessarily easy. That’s why it’s valuable to know that Louisiana offers several first-time homebuyer programs for low- and middle-income residents that can help newcomers break into the real estate market.

Read on to learn about ways to make buying your first home more affordable when you are house-hunting in Louisiana.

Who Qualifies as a First-Time Homebuyer?

If you’ve never bought a home, of course you’re a first-time homebuyer. But the U.S. Department of Housing and Urban Development (HUD) also classifies the following as first-time homebuyers:

•   Someone who hasn’t owned a principal residence in the past three years

•   A single parent who has only owned a home with a partner while married

•   A displaced homemaker who has only owned a home with a spouse

•   Someone who has owned a principal residence not permanently affixed to a permanent foundation

•   Someone who has only owned a property that wasn’t in compliance with state, local, or model building codes

Also worth noting: Veterans often qualify for the same programs as first-time buyers.

💡 Quick Tip: Buying a home shouldn’t be aggravating. Online mortgage loan forms can make applying quick and simple.

6 Louisiana Programs for First-Time Homebuyers

The Louisiana Housing Corporation (LHC) allocates federal and state funds to low- and moderate-income homebuyers. It was created in 2011 in a merger of the Louisiana Housing Finance Agency with housing programs from other state agencies, including the Disaster Housing Task Force. The move helped centralize Louisiana’s housing policies and programs.

Many of LHC’s programs allow the purchase of a variety of properties, including single-family homes, condominiums, townhomes, modular homes, and manufactured homes. Here’s a closer look at LHC’s programs for first-time homebuyers, generally those who haven’t owned a principal home within the past three years.

1. LHC Mortgage Revenue Bond Home Program

This mortgage program is designed for buyers with incomes up to 80% of the area median income. Mortgage rates are usually below market, and down payment and closing cost assistance varies, depending on the amount of the loan. Discounted mortgage insurance premiums are also available. There are purchase price limits. Candidates must have a minimum credit score of 640 and complete a homebuyer education course.

2. LHC Mortgage Revenue Bond Assisted Program

This LHC MRB program helps first-time homebuyers and repeat buyers who plan to live in designated areas. Buyers in these areas with up to 140% of area median income may qualify. Interest rates on these loans are usually in line with the market. Down payment assistance is available through a second mortgage program.

Candidates must have a credit score of 640 and complete a homebuyer education course. The purchase price may not exceed limits set by the program.

3. LHC Premier Conventional Program

These loans are available to first-time homebuyers and repeat buyers who meet income requirements. Rates for 30-year fixed mortgages are competitive, and reduced mortgage insurance is available. The loan can be paired with LHC’s down payment assistance programs.

First-time buyers will need to complete a homebuyer education course; the 640 credit score minimum exists for all buyers. Unlike other LHC programs, this loan can only be used to purchase a single-family residence, and maximum loan amounts exist.

4. HC Delta 100 Program

The Delta 100 is aimed at first-time homebuyers without a credit history in specific Louisiana parishes. Mortgages are 30-year fixed at below market rates, with up to 3% closing cost assistance. The Delta 100 program requires borrowers to contribute 1% of the home purchase price or $1,500, whichever is less. Gifts are not allowed.

No credit score is needed. The loans can only be used for single-family homes. Buyers must complete a homebuyer education course.

5. Louisiana’s Resilience Soft Second Program

The Resilience Soft Second Program offers first-time homebuyers in the 51 parishes impacted by the 2016 floods a second mortgage of 20% of the home’s purchase price, up to $55,000. A maximum of $5,000 in closing costs is also included. Buyers who stay in the home as their primary residence for 10 years qualify for loan forgiveness.

To qualify, buyers must have income at or below 80% of the area median income and meet other qualifications. In addition, they must be buying a single-family home, condo, or townhome under certain purchase price limits and not in a flood zone. They also must complete a homebuyer education course.

6. Louisiana Mortgage Credit Certificate Program

Qualifying first-time homebuyers, veterans, and low- to moderate-income buyers purchasing a home in designated areas can take this Mortgage Credit Certificate Program assistance of a federal tax credit of 40% of their annual mortgage interest payments, up to $2,000 per year. Household income limits depend on the property location and household size. The credit can be taken for as long as the property is the buyer’s primary residence.

When looking into these programs, it’s also wise to review a general first-time homebuyer guide, so you can prepare for the process ahead.

How to Apply to Louisiana Programs for First-Time Homebuyers

Get information and help figuring out if any of the programs listed above are right for you on the Louisiana Home Corporation website. Links are provided above. Purchase price and income limits for the Mortgage Revenue Bond programs and other details are also on the site.

LHC is not a lender, but the agency provides a list of approved partners for each program that you can use to find and compare lenders in your area.

For many programs, completion of LHC’s homebuyer education is required. This can help buyers understand how much mortgage they can afford and estimate monthly payments.

Some towns and nonprofits also have local programs for first-time homebuyers. So another smart move is to search online for the name of the town where you’d like to live plus the phrase “first-time homebuyer”.

Recommended: Understanding the Different Types of Mortgage Loans

Federal Programs for First-Time Homebuyers

Several federal government programs are designed for people who have low credit scores or limited cash for a down payment. Although most of these programs are available to repeat homeowners, like state programs, they can be especially helpful to people who are buying a first home or who haven’t owned a home in years.

The mortgages are generally for single-family homes, two- to four-unit properties that will be owner occupied, approved condos, townhomes, planned unit developments, and some manufactured homes. Review your options carefully to see if you can lower your mortgage payments with one of these programs.

Federal Housing Administration (FHA) Loans

The FHA, which is part of the US Department of Housing and Urban Development (HUD), insures mortgages for borrowers with lower credit scores. Homebuyers choose from a list of approved lenders that participate in the FHA loan program.

Loans have competitive interest rates and require a down payment of 3.5% of the purchase price for borrowers, who typically need FICO® credit scores of 580 or higher. Those with low credit scores between 500 and 579 must put at least 10% down.

In addition to examining your credit score, lenders will look at your debt-to-income ratio (DTI, your monthly debt payments compared with your monthly gross income). FHA loans allow a DTI ratio of up to 57% in some cases, vs. a typical 45% or 50% maximum for a conventional loan.

Gift money for the down payment is allowed from certain donors, which can be helpful. It will likely need to be documented in a gift letter for the mortgage.

FHA loans always require mortgage insurance: a 1.75% upfront fee and annual premiums for the life of the loan, unless you make a down payment of at least 10%, which allows the removal of mortgage insurance after 11 years.

You can learn more about these loans, including FHA loans for refinance and rehab of properties, by reading up on FHA requirements, loan limits, and rates.

Freddie Mac Home Possible Mortgages

Very low- and low-income borrowers may make a 3% down payment on a Home Possible^® mortgage. These loans allow various sources for down payments, including co-borrowers, family gifts, employer assistance, secondary financing, and sweat equity.

The Home Possible mortgage is for buyers who have a credit score of at least 660.

Once you pay 20% of your loan, the Home Possible mortgage insurance will be canceled, which will lower your mortgage payments.

Fannie Mae HomeReady Mortgages

Fannie Mae HomeReady^® Mortgages allow down payments as low as 3% for low-income borrowers. You’ll generally need a credit score of at least 620; pricing may be better for credit scores of 680 and above. Like the Freddie Mac program, HomeReady loans allow flexibility for down payment financing, such as gifts and grants.

Need information about Fannie Mae lenders in your area? Contact the Fannie Mae Resource Center .

Fannie Mae Standard 97 LTV Loan

The conventional 97 LTV loan is for first-time homebuyers of any income level who have a credit score of at least 620 and meet debt-to-income criteria. The 97% loan-to-value mortgage requires 3% down, as the name may suggest. Borrowers can get down payment and closing cost assistance from third-party sources.

Unlike an FHA loan, the 97 LTV loan has no upfront mortgage insurance fee, and it does have cancellable mortgage insurance. The loan is for just one-unit single-family homes, co-ops, condos, planned unit developments, and eligible manufactured homes.

Department of Veterans Affairs (VA) Loans

Active-duty members of the military, veterans, and eligible Eligible active-duty members of the military, veterans, reservists, and surviving spouses may apply for loans backed by the Department of Veterans Affairs. VA loans, which can be used to buy, build, or improve homes, have lower interest rates than most other mortgages and don’t require a down payment. Most borrowers pay a one-time funding fee that can be rolled into the mortgage.

Here’s another benefit of VA loans: They do not require private mortgage insurance (PMI) for borrowers who make a down payment of less than 20%. And they have more flexible credit score requirements. In some cases, even those who have previously been in foreclosure or bankruptcy can qualify.

Borrowers applying for a VA loan will need a Certificate of Eligibility from the VA so make sure to review a guide to qualifying for a VA loan as a first step in the process.

💡 Quick Tip: Active duty service members who have served for at least 90 consecutive days are eligible for a VA loan. But so are many veterans, surviving spouses, and National Guard and Reserves members. It’s worth exploring with an online VA loan application because the low interest rates and other advantages of this loan can’t be beat.†

Native American Veteran Direct Loans (NADLs)

Eligible Native American veterans and their spouses may use these 0% down loans to buy, improve, or build a home on federal trust land. The Department of Veterans Affairs is the lender for NADLs. The funding fee applies. To learn more, contact [email protected].

U.S. Department of Agriculture (USDA) Loans

No down payment is required for USDA-backed loans for property in specified rural areas. Borrowers must meet income requirements, and there are fees associated with these loans. Eligible properties are listed by region on the USDA website .

U.S. Department of Housing and Urban Development (HUD) Good Neighbor Next Door Program

Police officers, firefighters, emergency medical technicians, and teachers can receive 50% off a home in a “revitalization area.” To qualify, borrowers must live in the home for at least three years. HUD offers more information on homeownership programs in Louisiana on its website.

Louisiana Homebuyer Stats for 2025

Here’s a snapshot of the typical home purchase in Louisiana.

•  Average home value: $208,234

•  Median down payment: $20,500

•  Average credit score among homebuyers: 690

Financing Tips for First-Time Homebuyers

In addition to federal and state government-sponsored lending programs, there are other financial strategies that may help you become a homeowner. Some examples:

•  Traditional IRA withdrawals. The IRS allows qualifying first-time homebuyers a one-time, penalty-free withdrawal of up to $10,000 from their IRA if the money is used to buy, build, or rebuild a home. When it comes to IRA withdrawals, the IRS considers anyone who has not owned a primary residence in the past two years a first-time homebuyer. You will still owe income tax on the IRA withdrawal. If you’re married and your spouse has an IRA, they may also make a penalty-free withdrawal of $10,000 to purchase a home. The downside, of course, is that large withdrawals may take a big bite out of your retirement savings.

•  Roth IRA withdrawals. Because Roth IRA contributions are made with after-tax money, the IRS allows tax- and penalty-free withdrawals of contributions for any reason as long as you’ve held the account for five years. You may also withdraw up to $10,000 in earnings from your Roth IRA without paying taxes or penalties if you are a qualifying first-time homebuyer and you have had the account for five years. With accounts held for less than five years, homebuyers will have to pay income tax on earnings withdrawn.

•  401(k) loans. If your employer permits borrowing from the 401(k) plan that it sponsors, you may consider taking a loan against the 401(k) account to help finance your home purchase. With most plans, you can borrow up to 50% of your 401(k) balance, up to $50,000, within a 12-month period without incurring any taxes or penalties. You pay interest on the loan, which is paid into your 401(k) account. You usually have to pay back the loan within five years, but if you’re using the money to buy a house, you may have up to 15 years to repay.

•  State and local down payment assistance programs. Usually offered at the regional or county level, these programs provide flexible second mortgages for first-time buyers looking into how to afford a down payment.

•  The mortgage credit certificate program. First-time homeowners and those who buy in targeted areas can claim a portion of their mortgage interest as a tax credit, up to $2,000. Any additional interest paid can still be used as an itemized deduction. To qualify for the credit, you must be a first-time homebuyer, live in the home, and meet income and purchase price requirements, which vary by state. If you refinance, the credit disappears, and if you sell the house before nine years, you may have to pay some of the tax credit back.

Note: There are fees associated with applying for and receiving the mortgage credit certificate that vary by state. Often the savings from the lifetime of the credit can outweigh these fees.

•  Your employer. Your employer may offer access to lower-cost lenders and real estate agents in your area, as well as home buying education courses.

•  Your lender. Always ask your lender about any first-time homebuyer grant or down payment assistance programs available from government, nonprofit, and community organizations in your area.

The Takeaway

Louisiana supports several first-time home-buying programs that can help residents achieve their goal of homeownership. This can be in the form of assistance with a down payment, mortgage, closing costs, and other expenses. In addition to statewide programs, there are initiatives for residents living in specific parishes. Low- and moderate-income Louisianans may find alternatives among the federal government’s first-time homebuyer programs, as well as offers from private lenders.

By Kelly Boyer Sagert

(Last Updated – 06/2025)

The University of South Carolina is a public research university with its main campus in Columbia and eight campuses in total across the state. The university has more than 350 degree programs, including well-respected medical, law, business, and engineering programs.

Total Cost of Attendance

The University of South Carolina tuition in 2023-24 for state residents was $12,688. This is slightly higher than the national average of $11,260 for in-state tuition at public universities. For residents of other states, South Carolina tuition was $34,934, which is higher than the national average for out-of-state tuition of $29,150.

Tuition, however, is only part of the total cost of attending college. Here’s a look at other expenses students can expect when attending the University of South Carolina.

Costs for 2023-24

Financial Aid

At South Carolina, nearly all students (95%) use financial aid to help cover the tuition and other costs. This may be student loans, scholarships, or grants, or a combination of these. You can explore financial aid options at South Carolina Student Loan & Scholarships.

Generally, financial aid is monetary assistance awarded to students based on personal need or merit. Students who qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:

•  Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, or financial need.

•  Grants: Generally based on financial need, these can come from federal, state, private, or nonprofit organizations.

•  Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

•  Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state, federal, and school deadlines may differ.

You can find other financial aid opportunities on databases such as:

•  US Department of Education – Search for grants from colleges and universities by state

•  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

•  SoFi Scholarship Finder– Use our handy tool to streamline your search by award type, location, level of study and more.

Private Student Loans

Of the South Carolina students who take out student loans, 48% take out federal loans, and 12% get private student loans (with an average amount of $20,640).

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -affiliated organizations. While Federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans, which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for, since it generally has better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school during the year, private loans can potentially help you make your tuition payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: Guide to Private Student Loans

Projected 4-Year-Degree Price

The University of South Carolina cost for four years, including tuition and fees, room and board, books, and other costs, is $127,908 for in-state students (based on 2023-24 numbers). By comparison, the national average at public universities for in-state students is $115,360 for four years.

For out-of-state residents, the four-year cost for attending South Carolina is $216,892. This is higher than the national average of $186,920 for out-of-state tuition and other expenses.

This student loan and scholarship information may be valuable as you research schools and costs.

Undergraduate Tuition and Fees

Costs for 2023-24

University of South Carolina undergraduate tuition and fees for 2023-24 were $12,688 for in-state students, which was the same as the prior academic year The tuition and fees for out-of-state students in 2023-24 were $34,934, a 3% increase from the prior academic year.

By Susan Guillory

(Last Updated – 06/2025)

Total Cost of Attendance

Not only is the University of Hawaii at Manoa located on the beautiful island of Oahu, but it also is a well-respected research institution, particularly in oceanography, astronomy, evolutionary biology, Pacific Islands and Asian studies, and more. The cost of attending can be slightly above the U.S. norm. In 2023-24, University of Hawaii tuition was $12,186 for in-state students and $34,218 for out-of-state students. Compare these numbers to the national average for public four-year schools of $11,260 for in-state students and $29,150 for out-of-state students.

Costs for 2023-24

Financial Aid

Recently, 79% of students received financial aid to help with University of Hawaii at Manoa tuition in the form of student loans, scholarships, and grants.

Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students who qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:

•  Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.

•  Grants: Generally based on financial need, these can come from federal, state, private, and nonprofit organizations.

•  Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

•  Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.

You can find other financial aid opportunities on databases such as:

•  US Department of Education – Search for grants from colleges and universities by state

•  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

Recommended: The Differences Between Grants, Scholarships, and Loans

Private Student Loans

Many UH Manoa students take out either federal student loans or private loans to help with Hawaii University tuition; 31% take out federal loans and 4% take out private loans. The average amount for a private student loan is $13,456.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-affiliated organizations. While federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for as it generally may have better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: Guide to Private Student Loans

Projected 4-Year-Degree Price

To attend the University of Hawaii at Manoa for four years, the price, including tuition and fees, room and board, and books would be (based on 2023-24 rates) $129,324 for in-state students and $217,452 for out-of-state students. According to CollegeData.com, the average cost of attendance at a four-year public university is $116,600 for four years for out-of-state students and $166,160 for private universities.

Here’s some Hawaii Student Loan & Scholarship Information for you.

Undergraduate Tuition and Fees

Costs for 2023-24

University of Hawaii tuition and fees in Manoa were $27,122 for students from Hawaii, including room and board, and $49,154 for those from other states.

Graduate Tuition and Fees

Costs for 2023-24

Hawaiian students attending UH Manoa graduate school paid, on average, $17,852 for their studies in 2023-24, while those from other states paid $35,900. The national average for graduate school is $21,730 per year for tuition and fees. There are graduate loans available to help with these costs.

Cost per Credit Hour

If you prefer to attend UH Manoa part-time, the fee per credit for in-state undergraduate students is $471, and for out-of-state students the fee is $1,389.

This student loan and scholarship information can help you explore options to pay for college.

Campus Housing Expenses

Costs for 2023-24

*Availability not guaranteed; Out-of-state students may need to access off-campus housing instead. Current cost estimates are $17,357 for off-campus housing with other expenses at $4,975

Students who live on campus can choose from ten residence halls (some of which offer living and learning communities) and two apartment complexes.

Students who live off campus can live in one of the university’s apartment buildings or any number of housing options near campus.

University of Hawaii at Manoa Acceptance Rate

Fall 2023

The University of Hawaii acceptance rate is high, at 70%.

Admission Requirements

Here’s what you need to include with your application to the University of Hawaii at Manoa:

Required:

•  High school transcript

Recommended:

•  Letter of recommendation

•  Personal statement and list of achievements form

•  SAT or ACT scores

You can apply to the University of Hawaii at Manoa here .

SAT and ACT Scores

Applicants are not required to submit test scores, though they may choose to do so. As a result, the school no longer provides data on test score percentiles.

Popular Majors at the University of Hawaii at Manoa

The University of Hawaii at Manoa offers over 200 majors in 18 colleges and schools. Here are the most popular ones

1. Business, Management, and Marketing

In this program at UH Manoa, students learn about business management techniques, product development and improvement, logistics, and pricing strategy.

Undergraduate degrees in 2023: 654

2. Engineering

Whether mechanical, chemical, or another branch of engineering, this STEM major has proved popular at University of Hawaii at Manoa.

Undergraduate degrees in 2023: 257

3. Biological and Biomedical Sciences

Biology students study biochemistry, molecular biology, morphology, biodiversity, and more. Some students focus more on industry applications of this knowledge base.

Undergraduate degrees in 2023: 247

4. Social Sciences

Students in this program study such topics as anthropology, political science, sociology, and geography.

5. Psychology

The most popular major at the University of Hawaii at Manoa is psychology. Students learn about the science of mind and behavior, as well as cognition, neuroscience, and social psychology.

Undergraduate degrees in 2023: 201

6. Health Professions and Related Programs

These programs include such options as speech pathology, social work, and pre-vet studies for those interested in pursuing health care and healing programs.

Undergraduate degrees in 2023: 187

7. Foreign Languages, Literature, and Linguistics

In this program, students study such languages, literature, and linguistics as Chinese, French, German, Japanese, Filipino, Russian, and more.

Undergraduate degrees in 2023: 128

8. Communications

In this program, communications students dive into cinema and multimedia communications, communication in communities, and information and communication technologies.

Undergraduate degrees in 2023: 125

9. Computer and Information Sciences Education

In the education program at UH Manoa, students learn about product development and improvement, logistics, brand communications, and pricing strategy.

Undergraduate degrees in 2023: 109

10. Parks, Recreation, Leisure, Fitness, and Kinesiology

UH Manoa students in this program study kinesiology, physical education, and sports to prepare for related careers.

Undergraduate degrees in 2023: 101

Use this resource to find out more about the majors at the University of Hawaii.

Graduation Rate

Here is the graduation rate for students who started their studies at the University of Hawaii at Manoa in 2017:

•  6 years: 63%

Post-Graduation Median Earnings

After graduating from UH at Manoa, students earn, on average, $58,000 per year. This is somewhat lower than the U.S. average for graduates of $68,516.

Who Is Considered a First-Time Homebuyer in Colorado?

First things first: The definition of first-time homebuyer is more expansive than it seems. For most programs offered in Colorado, and elsewhere, applicants are considered first-time homebuyers if they haven’t owned a home for the past three years. Let’s look at some of the programs designed to get first-time homebuyers a home mortgage loan or help with closing costs.

Other Colorado Homebuyer Programs by Location

If you’ve already chosen the Colorado city or county you hope to make your home, you may also want to research local buyer assistance programs.

If you can’t find assistance in your chosen location, check back occasionally for new offers. Some first-time homebuyer programs base their opportunities (and deadlines) on the funds they expect to become available. When their money runs out, they may press pause.

Aurora Assistance Program

Aurora’s Home Ownership Assistance Program was created to assist low- and moderate-income first-time homebuyers. It provides up to $10,000 in assistance to buyers in Aurora who need help covering down payment and closing costs. For information on benefits and requirements, you can email [email protected], or call 303-739-7900.

Boulder Programs

The city of Boulder is offering several assistance opportunities to low-, moderate-, and higher-middle-income first-time homebuyers. The programs include down payment assistance loans and grants, as well as a program that offers homes for sale at below-market prices to income-eligible owner-occupiers.

You can get eligibility requirements and how to apply by going to the program’s website . If you’re planning to purchase in Boulder County but the home is outside the city limits, ask your lender about other programs that may be available to you.

Douglas County Down Payment Assistance

The Douglas County Housing Partnership offers a down payment assistance program to first-time homebuyers, with preference given to borrowers who currently live and/or work in the county. For information on the benefits and requirements, check out the website or call the partnership at 303-660-7460.

Eagle County Down Payment Assistance

Eagle County’s program has a few variations, and your assistance may be based on the type of first mortgage you obtain, where you plan to live, your income, and other factors. Get more information at the program’s website . If you have questions, you can email [email protected] or call 970-328-8770.

MetroDPA Program

The MetroDPA down payment assistance program is for homebuyers with up to $195,600 of qualifying income who purchase a home in the Front Range, from Castle Rock to Wellington. For information on benefits and eligibility requirements, check out the program’s website

How to Apply to Colorado Programs for First-Time Homebuyers

The way to get more information about each program, and apply, is described above.

Often an approved lender is the go-to for assistance programs.

Recommended: Understanding Mortgage Basics

Federal Programs for First-Time Homebuyers

Several federal government programs are designed for people who have low credit scores or limited cash for a down payment. Although most of these programs are available to repeat homeowners, like state programs, they can be especially helpful to people who are buying a first home or who haven’t owned a home in several years.

The mortgages are generally for single-family homes, two- to four-unit properties that will be owner occupied, approved condos, townhomes, planned unit developments, and some manufactured homes.

Federal Housing Administration (FHA) Loans

The FHA, which is part of the U.S. Department of Housing and Urban Development (HUD), insures mortgages for borrowers with lower credit scores. Homebuyers choose from a list of approved lenders that participate in the FHA loan program. Loans have competitive interest rates and require a down payment of 3.5% of the purchase price for borrowers, who typically need FICO^® credit scores of 580 or higher. Those with scores as low as 500 must put at least 10% down.

In addition to examining your credit score, lenders will look at your debt-to-income ratio (DTI, your monthly debt payments compared with your monthly gross income). FHA loans allow a DTI ratio of up to 57% in some cases, vs. a typical 45% maximum for a conventional loan.

Gift money for the down payment is allowed from certain donors and will be documented in a gift letter for the mortgage.

FHA loans always require mortgage insurance: a 1.75% upfront fee and annual premiums for the life of the loan, unless you make a down payment of at least 10%, which allows the removal of mortgage insurance after 11 years. For a $300,000 mortgage balance, upfront MIP would be around $5,250 and monthly MIP, at a rate of 0.55%, would be around $137. You can learn more about these loans, including FHA loans for refinance and rehab of properties, by reading up on FHA requirements, loan limits, and rates.

Freddie Mac Home Possible Mortgages

Very low- and low-income borrowers may make a 3% down payment on a Home Possible^® mortgage. These loans allow various sources for down payments, including co-borrowers, family gifts, employer assistance, secondary financing, and sweat equity.

The Home Possible mortgage is for buyers who have a credit score of at least 660.

Once you pay 20% of your loan, the Home Possible mortgage insurance will be canceled, which will lower your mortgage payments.

Fannie Mae HomeReady Mortgages

Fannie Mae HomeReady^® Mortgages allow down payments as low as 3% for low-income borrowers. Applicants generally need a credit score of at least 620; pricing may be better for credit scores of 680 and above. Like the Freddie Mac program, HomeReady loans allow flexibility for down payment financing, such as gifts and grants.

For income limits, a comparison to an FHA loan, and other information, go to this Fannie Mae site .

Fannie Mae Standard 97 LTV Loan

The conventional 97 LTV loan is for first-time homebuyers of any income level who have a credit score of at least 620 and meet debt-to-income criteria. The 97% loan-to-value mortgage requires 3% down. Borrowers can get down payment and closing cost assistance from third-party sources.

Department of Veterans Affairs (VA) Loans

Eligible active-duty members of the military, veterans, reservists, and surviving spouses may apply for loans backed by the Department of Veterans Affairs. VA loans, which can be used to buy, build, or improve homes, have lower interest rates than most other mortgages and don’t require a down payment. Most borrowers pay a one-time funding fee that can be rolled into the mortgage.

Another benefit of VA loans is that they do not require private mortgage insurance (PMI) for borrowers who make a down payment of less than 20%. And they have more flexible credit score requirements. In some cases, even those who have previously been in foreclosure or bankruptcy can qualify.

Borrowers applying for a VA loan will need a Certificate of Eligibility from the VA so make sure to review a guide to qualifying for a VA loan as a first step in the process.

Native American Veteran Direct Loans (NADLs)

Eligible Native American veterans and their spouses may use these no-down-payment loans to buy, improve, or build a home on federal trust land. Unlike VA loans listed above, the Department of Veterans Affairs is the mortgage lender on NADLs. The VA requires no mortgage insurance, but it does charge a funding fee.

US Department of Agriculture (USDA) Loans

No down payment is required on these loans to moderate-income borrowers that are guaranteed by the USDA in specified rural areas. Borrowers pay an upfront guarantee fee and an annual fee that serves as mortgage insurance.

The USDA also directly issues loans to low- and very low-income people. For loan basics and income and property eligibility, head to this USDA site .

HUD Good Neighbor Next Door Program

This program helps police officers, firefighters, emergency medical technicians, and teachers qualify for mortgages in the areas they serve. Borrowers can receive 50% off a home in what HUD calls a “revitalization area.” They must live in the home for at least three years.

For more information, visit the HUD program page.

First-Time Homebuyer Stats for 2025

You’re probably curious about where you fit amid the mix of homebuyers out there. Here are some stats:

•   Percentage of buyers nationwide who are first-time buyers: 24%

•   Median age of first-time homebuyers nationally: 38

•   Median home price in Colorado: $625,500

•   Median gross rent: $1,713

•   66.3% of Colorado housing units were owner-occupied

•   Average credit score in Colorado: 731

Additional Financing Tips for First-Time Homebuyers

In addition to federal and state government-sponsored lending programs, there are other financial strategies that may help you become a homeowner. Some examples:

•  Traditional IRA withdrawals. The IRS allows qualifying first-time homebuyers a one-time, penalty-free withdrawal of up to $10,000 from their IRA if the money is used to buy, build, or rebuild a home. The IRS considers anyone who has not owned a primary residence in the past two years a first-time homebuyer. You will still owe income tax on the IRA withdrawal. If you’re married and your spouse has an IRA, they may also make a penalty-free withdrawal of $10,000 to purchase a home. The downside, of course, is that large withdrawals may jeopardize your retirement savings.

•  Roth IRA withdrawals. Because Roth IRA contributions are made with after-tax money, the IRS allows tax- and penalty-free withdrawals of contributions for any reason as long as you’ve held the account for five years. You may also withdraw up to $10,000 in earnings from your Roth IRA without paying taxes or penalties if you are a qualifying first-time homebuyer and you have had the account for five years. With accounts held for less than five years, homebuyers will pay income tax on earnings withdrawn.

•  401(k) loans. It may be possible to borrow from the 401(k) plan that your employer sponsors or take a loan against the 401(k) account to help finance your home purchase. With most plans, you can borrow up to 50% of your 401(k) balance, up to $50,000, in a year without incurring taxes or penalties. You pay interest on the loan, which is paid into your 401(k) account. You usually have to pay back the loan within five years, but if you’re using the money to buy a house, you may have up to 10 years or more to repay.

•  State and local down payment assistance programs. Usually offered at the regional or county level, these programs provide flexible second mortgages for first-time buyers looking into how to afford a down payment.

•  The mortgage credit certificate program. First-time homeowners and those who buy in targeted areas can claim a portion of their mortgage interest as a tax credit, up to $2,000. Any additional interest paid can still be used as an itemized deduction. To qualify for the credit, you must be a first-time homebuyer, live in the home, and meet income and purchase price requirements, which vary by state. If you refinance, the credit disappears, and if you sell the house before nine years, you may have to pay some of the tax credit back. There are fees associated with applying for and receiving the mortgage credit certificate that vary by state. Often the savings from the lifetime of the credit can outweigh these fees.

•  Your employer. Your employer may offer access to lower-cost lenders and real estate agents in your area, as well as home-buying education courses.

•  Your lender. Always ask your lender about any first-time homebuyer grant or down payment assistance programs available from government, nonprofit, and community organizations in your area.

The Takeaway

A robust assortment of mortgage and down payment help in Colorado allows qualifying first-time homebuyers to afford a home of their own. Others may have to blaze their own trail to find a mortgage that’s a good fit. Keep in mind that borrowers who go with a conventional loan don’t necessarily have to come up with a 20% down payment. (And most buyers don’t.)

By Susan Guillory

(Last Updated – 06/2025)

The University of Alabama offers a range of undergraduate, graduate, and professional programs, each with its own tuition structure and associated fees. Tuition rates vary significantly depending on residency status — Alabama residents benefit from lower in-state rates, while out-of-state and international students pay higher out-of-state tuition.

Keep reading for a full understanding of the cost of attendance at the University of Alabama — including estimates for living expenses and optional fees — in addition to graduation rates, popular majors, and average starting salary for graduates.

Total Cost of Attendance

The University of Alabama, located in Tuscaloosa, Alabama, is a well-respected public university known for its law school. University of Alabama tuition for the 2023-24 school year was $11,900 for in-state students and $33,200 for out-of-state students.

Recommended: Alabama Student Loan and Scholarship Information

Costs for 2023-24

Financial Aid

An overwhelming majority of students at the University of Alabama receive financial aid; 85% take out student loans or receive grants or scholarships.

Generally, financial aid is monetary assistance awarded to students based on personal need or merit. Students who qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private lenders, and nonprofits. The different types include:

•  Scholarships: Scholarships can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, or financial need.

•  Grants: Grants are generally based on financial need. These can come from federal, state, private, or nonprofit organizations.

•  Work-study: Federal Work-Study provides qualifying students with part-time employment to earn money for expenses while in school.

•  Federal student loans: are money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA®) to determine financial aid eligibility. The FAFSA can be completed online, but note that state, federal, and school deadlines may differ.

You can find other financial aid opportunities on databases such as:

•  US Department of Education – Search for grants from colleges and universities by state

•  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

Recommended: The Differences Between Grants, Scholarships, and Loans

Private Student Loans

Of those students who take out student loans to help with University of Alabama tuition, 37% take out federal loans and 11% choose private loans. The average private student loan per year is $26,980.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -affiliated organizations. While federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations, so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans, while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for, since it generally has better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school during the year, private loans can potentially help you make your tuition payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: Guide to Private Student Loans

Projected 4-Year-Degree Price

To attend the University of Alabama for four years, tuition, fees, room and board, and other expenses would total $133,528 for students who live in Alabama and $218,728 for those from other states. According to CollegeData.com, the average total cost for four years for a public university in the U.S. is $115,360.

Here’s some Student Loan & Scholarship Information for you.

Undergraduate Tuition and Fees

Costs for 2023-24

In-state students paid $11,900 for tuition in 2023-24, and out-of-state students paid $33,200. Both had room and board fees of $14,840.

Graduate Tuition and Fees

Costs for 2023-24

Interested in graduate school? University of Alabama tuition for grad school students in 2023-24 was $11,100 (in-state) and $32,400 (out-of-state). There are graduate loans available to help with these costs.

Cost per Credit Hour

Students who attend the school part-time don’t pay the full University of Alabama tuition. Instead, in-state students pay $545 per credit hour and out-of-state students pay $1,520 per credit hour.

Campus Housing Expenses

Costs for 2023-24

*Starting rate for a studio based on available apartments on U of A’s off-campus housing website in 2025.

U of A has 34 residence halls and 9,000 students live on campus. Freshmen are required to live on campus. The school also offers Living-Learning Communities (LLCs), where students with common interests or academic goals can build their own community.

Upperclassmen may choose to live on campus or off. There are many rentals available. This guide can help you find off-campus options.

University of Alabama Acceptance Rate

Fall 2023

Of the students who apply, 76% are accepted, making the University of Alabama acceptance rate high.

Admission Requirements

University of Alabama admissions require certain documents in addition to your application:

Required:

•  High school transcript and GPA

•  Secondary school record

•  Completion of college-preparatory program

Recommended:

•  Secondary school rank

•  Admission test scores

The deadline to apply to the University of Alabama, for both admission and scholarships, is January 10. You can apply here.

SAT and ACT Scores

No test scores are required for students entering in the fall of 2025. However, if you would like to submit your scores, it can be helpful to compare them to scores in the 25th and 75th percentile:

Popular Majors at the University of Alabama

The University of Alabama offers approximately 220 bachelor’s, master’s, and doctoral degrees. Here are the most popular majors for undergraduates.

1. Marketing

Marketing students learn how to identify and assess consumer and industrial market needs, as well as develop marketing programs, promotions, and pricing.

Undergraduate degrees in 2022-23: 510

2. Finance

This program teaches students about asset management, commercial and investment banking, corporate financial management, venture capital, and more, and graduates may go on to work in private, corporate, or public sectors.

Undergraduate degrees in 2022-23: 497

3. Nursing

U of A’s nursing program prepares students for a career as a nurse in diverse practices, including community health, mental health, adult health, pediatrics, or labor and delivery.

Undergraduate degrees in 2022-23: 374

4. Psychology

U of A offers both a BA and BS in psychology. Both are excellent foundations for master’s degrees in many fields. Students learn about behavior, human growth, and biology, and develop strong writing and research skills.

Undergraduate degrees in 2022-23: 334

5. Biology

Upon graduation, biology students are well-versed in all aspects of biology, and are ready to either continue their education or take jobs in medical, research, pharmaceutical sales, or education roles.

Undergraduate degrees in 2022-23: 226

6. Mechanical Engineering

A Bachelor of Science degree in mechanical engineering provides a foundation in math and physical science. Students will learn to design, test, and build, as well as analyze and interpret data.

Undergraduate degrees in 2022-23: 224

7. Criminology

Students in this major learn about computer fraud investigation, crime scene analysis, and criminal investigation.

Undergraduate degrees in 2022-23: 219

8. Public Relations

Students in this major learn how to blend the interests of an organization with those of the public. They learn strategies to achieve program objectives, multimedia tactics to implement PR programs in a digital world, and the role that PR plays in the global market.

Undergraduate degrees in 2022-23: 212

9. Accounting

Not only do accounting students learn to balance the books, they also learn how to research, problem-solve, think critically, communicate, and work with others.

Undergraduate degrees in 2022-23: 207

10. Business

A business degree can prepare you for a variety of careers or it can be a great springboard to higher degrees. This program teaches students about enterprise, business operations, and economics.

Undergraduate degrees in 2022-23: 181

This resource can help you learn more about the programs of study at the University of Alabama.

Graduation Rate

The six-year graduation rate of students who began their studies in 2017 is 74%; the four-year graduation rate is 56%.

Post-Graduation Median Earnings

Median earnings of those who attended U of A is $59,000 a year, which is less than the national average for graduates of four-year schools at $68,680 a year.