Down Payment Assistance

Don't let the down payment be a barrier! Our programs offer a helping hand, reducing your upfront costs and making homeownership more accessible, often with grants or forgivable loans that don't need to be repaid.

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Why Use DPA?

Beyond the immediate relief, Down Payment Assistance (DPA) can pave the way for long-term wealth building. By getting into a home earlier, you can begin to accrue appreciation and create a valuable asset for generations to come.

Homeownership Perks

Step into your own home sooner and start building equity, creating a stable and secure future for yourself and your family. Experience the pride and freedom of owning your space, without the years of saving.

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DPA Options

Dreaming of owning a home but worried about the upfront costs? Down Payment Assistance (DPA) makes it possible. DPA assists you in paying for your down payment. We know navigating the options can seem complex, but your loan officer handles all the heavy lifting, seamlessly integrating your DPA with your home loan.

The magic of DPA often comes in the form of a "silent second mortgage." What does "silent" mean for you?

No extra monthly payments: That's right! You won't have another bill to worry about.
Zero interest: Borrow money for free – seriously!
Potentially forgivable: In many cases, after a set period, you might not have to pay it back at all.

This isn't just a loan; it's a launchpad. DPA helps you unlock the door to homeownership with less stress, allowing you to focus on building your future and enjoying the comfort of your own home. Let's make your dream a reality!

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Pssssst! "automatic underwrite" is the computer software that analyzes the loan file risk based on the borrower's credit profile, employment history, assets, and current housing expense.

Conventional

3% - 5% Minimum Down Payment

Monthly Mortgage Insurance (<20% down)

640 Minimum Credit Score*

*Depending on Automatic Underwrite

Tribal HUD-184

2.25% Minimum Down Payment

No Monthly Mortgage Insurance

620 Minimum Credit Score

USDA / VA

0% Minimum Down Payment

No Monthly Mortgage Insurance

620 Minimum Credit Score*

*For Some DPA, can be lower for VA without DPA. Depends on Automatic Underwrite

FHA

3.5% Minimum Down Payment

Monthly Mortgage Insurance

580/620 Minimum Credit Score*

*Depending on DPA Option

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Minimum Down Payment Requirements

Navigating Down Payment Assistance (DPA) can feel complex, but a great loan officer makes all the difference. While many DPA programs offer incredible benefits like no monthly payments, zero interest, and even loan forgiveness, it's crucial to understand that not all DPA loans are the same. Some may have interest, require monthly payments, or aren't forgivable.

This is where an experienced and knowledgeable loan officer comes in. They should proactively and thoroughly explain all your options and their specific terms. If you find yourself in a situation where a loan officer isn't transparent about these details, it's a red flag. You deserve to feel comfortable and confident in your homeownership journey. Don't hesitate to shop around until you find a professional who prioritizes your understanding and peace of mind.

With 10 years of experience helping hundreds of individuals and families achieve their dream of homeownership through DPA, I'm here to answer any questions you may have. Let's make sure you're fully informed every step of the way!

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