Reach Your Homeownership Goals Sooner With Down Payment Assistance for Homebuyers
We bridge the gap between your savings and your dream home with specialized down payment assistance programs for homebuyers designed to eliminate the hurdle of a large down payment.
The Benefits of DPA Programs
Lower Upfront Cash
Significantly reduce the amount of liquid savings required at the closing table.
Forgivable Options
Select assistance programs offer forgivability over time, meaning you may not have to repay them.
Faster Path to Ownership
Stop waiting years to save—buy your home today with the help of specialized assistance.
No Monthly Payments
Many second mortgage assistance options carry no monthly interest or principal payments.
Versatile Combinations
Programs can typically be combined with Conventional, FHA, VA, or USDA loan types.
Cash for Reserves
Frees up your personal savings for closing costs, moving expenses, and emergency reserves.
Eligibility Requirements
While every program has unique guidelines, most DPA options share several core requirements for qualification.
Credit Score
Minimum scores typically range between 620-640 for most state and local programs.
Education
Successful completion of an approved homebuyer education course is usually required.
Primary Residence
The property being purchased must be owner-occupied as your primary home.
Income Limits
Household income must generally fall within local area median income (AMI) limits.
First-Time Buyer
Defined as not having owned a primary residence in the last 3 years for most programs.
Personal Contribution
A small minimum personal contribution may still be required by some lenders.
Types of Down Payment Assistance for Homebuyers
Grants
True gift funds provided by a local or state agency that never require repayment.
Forgivable 2nd
Second mortgages that are forgiven if you live in the home for a specific period.
Deferred Loans
Repaid only when the property is sold, refinanced, or the main mortgage is paid off.
Low-Interest 2nd
Subsidized second mortgages with very low interest rates to be repaid alongside your primary loan.
Ready to see how much assistance you qualify for?
Contact Adam Lewis today for a personalized assessment of your eligibility and to explore the best programs for your local area.