For many prospective home buyers, coming up with a down payment is the biggest barrier to homeownership. Fortunately, there are several government programs that offer down payment assistance to help make homeownership more affordable. These programs vary by state and may include grants, loans, or tax credits. Some programs are specifically geared toward first-time home buyers or low-income families, while others are available to anyone who meets certain eligibility criteria. To qualify for these programs, buyers typically need to meet income and credit score requirements and complete a home buyer education course. While down payment assistance programs can be a great way to make homeownership more accessible, it’s important to carefully read and understand the terms and conditions of each program before applying. By taking advantage of these programs, prospective buyers can make their dream of owning a home a reality.
Key Benefits of signing up:
1. Down Payment Assistance is forgiven after 3 years
2. DPA has 0% interest rate and no monthly payments
3. Anybody can qualify regardless of first time and main home status
4. Minimum FICO score must be 640
5. Flexible Income Limits