Making Homeownership More Affordable
Saving for a down payment and closing costs is often the most challenging part of the home buying process–but it doesn’t have to be. Since I started helping people into homes, I have always been a big advocate for affordable down payment assistance (DPA) lending programs. We work with counties nationwide to offer over five hundred down payment assistance programs that help you become a homeowner sooner.
What are down payment assistance (DPA) programs?
Down payment assistance programs are available county-by-county to offer homebuyers assistance with down payment and closing costs to purchase a home.
How do down payment assistance (DPA) programs work?
Down payment assistance is provided in the form of a loan or grant–secured as a lien against the property–and is often forgiven over time.
Down payment assistance eligibility can be based on income or location. However, we do have programs open to everyone.
Who can qualify for a down payment assistance program:
First-time homebuyers
Individuals with incomes below area median levels
Borrowers with little to no money saved for a down payment and closing costs
Benefits of a down payment assistance program:
Increase your buying power
Potentially avoid mortgage insurance requirements
Grant money does not have to be paid back
Down payment money is out there. Let’s see if you are eligible!
All loans are subject to underwriter approval; terms and conditions may apply. Subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.
