Buying your first home? Down Payment Assistance (DPA) programs help lower upfront costs with grants, forgivable loans, and flexible mortgage options. Whether you’re struggling to save for a down payment or looking for a more affordable way to buy a home, we can help you find the right program. Get started today!
First-Time Homebuyer and Down Payment Assistance (DPA) Loans help make homeownership more accessible by offering financial aid for down payments and closing costs. These programs are designed for new buyers who need extra support in affording a home and often come in the form of grants, second mortgages, or forgivable loans.
These programs are ideal for first-time buyers, individuals who haven’t owned a home in the past three years, and those with limited savings. Many DPA programs also cater to teachers, healthcare workers, and public service employees. If you’re struggling to afford a down payment but have steady income and credit, a DPA loan may be a great option.
DPA programs provide financial assistance through grants or low-interest second mortgages that cover down payments and closing costs. Some programs require repayment, while others are forgivable after a set number of years. Eligibility typically depends on income, credit score, and property location.
DPA funds can often be used with popular mortgage loan programs. FHA loans allow down payments as low as 3.5 percent, making them a great option for first-time buyers. VA loans provide zero down payment options for eligible veterans and active-duty military members. USDA loans offer 100 percent financing for homes in designated rural areas. Conventional loans, such as Fannie Mae’s HomeReady and Freddie Mac’s Home Possible programs, allow as little as 3 percent down.
These programs reduce upfront costs, making homeownership more accessible. Some offer forgivable assistance, meaning you won’t have to repay the funds if you meet residency requirements. Others provide flexible credit requirements and lower interest rates than traditional loans. By lowering the financial barriers to homeownership, DPA loans help buyers purchase a home sooner.
If saving for a down payment is the biggest obstacle to buying a home, a DPA loan can provide the financial help you need. These programs are designed to assist qualified buyers with securing a home loan while keeping upfront costs low. If you’re unsure whether you qualify, speaking with a mortgage expert can help determine the best solution for your situation.
We specialize in helping first-time buyers navigate the home loan process and secure the best down payment assistance programs available. Our team works with a variety of lenders and housing agencies to match buyers with financing options that fit their needs.
From pre-qualification to closing, we guide you every step of the way. Our goal is to make homeownership possible by providing expert advice, personalized loan solutions, and seamless application support.
With access to a wide range of down payment assistance programs, competitive mortgage rates, and flexible financing options, we make buying your first home easier than ever. Contact us today to get started!
Plan for your first purchase with clear answers about assistance, eligibility, upfront costs and repayment conditions.
No. First-time buyers may use conventional, FHA, VA or USDA financing when eligible. Down payment assistance is a separate source of help that may be paired with an approved mortgage. Being a first-time buyer does not by itself guarantee a lower rate, approval or assistance.
Some programs use a three-year lookback for ownership of a principal residence, while others have different rules or exceptions. The definition may also apply to a spouse or co-borrower. Check the exact program’s requirements before assuming that previous ownership either qualifies or disqualifies you.
Not always. Assistance can be a grant, a forgivable loan or a repayable second mortgage. Some loans have no monthly payment but become due when you sell, refinance or stop occupying the property. Read the agreement for the events that trigger repayment and the conditions for forgiveness.
OHFA currently lists assistance equal to 3% of the purchase price for conventional loans or 3.5% for FHA, VA and USDA loans. Its published terms describe forgiveness after seven years and full repayment if you sell within that period. Confirm current terms, eligibility and the effect of refinancing before committing.
Programs may review income, purchase price, property location, occupancy, credit and debt-to-income ratios. The first mortgage and the assistance program can have different standards, and you must meet both. Some programs require homebuyer education and an approved participating lender. Funding availability also needs confirmation.
Some programs allow both uses, but the agreement controls which expenses are eligible. Assistance may not cover every cost or remove the need for your own funds. Ask for a cash-to-close calculation showing the assistance, your deposit, permitted credits and the amount you must provide.
Sometimes, but combining programs requires approval under each program’s rules and the first mortgage’s requirements. A no-down-payment mortgage can still have closing costs. Have the lender verify compatibility and any second-lien restrictions before assuming multiple benefits can be added together.
Request side-by-side figures for cash to close, rate, total monthly payment and assistance repayment obligations. Consider how long you expect to own the home and whether a future sale or refinance could trigger repayment. Lower upfront cash is helpful only if the full arrangement fits your budget and plans.
Information checked September 6, 2026. Sources: OHFA: Current assistance terms · OHFA: Homebuyer eligibility · CFPB: Mortgage costs · CFPB: Types of loans.
