The Money Between You and the Keys
Down Payment Assistance, Grants, Forgivable Loans, and a Smarter Path to Closing
Use the printable tools, calculators, official links, glossary, and source notes referenced in the audiobook—without pausing to write down long web addresses.
Everything visual from the book, in one place
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Listen first
Continue through the chapters without stopping to copy a website or complete a worksheet.
Use the tools
Return here to print, complete, or save the document checklist, calendars, comparison worksheet, and cash-to-close calculator.
Verify current rules
Open the official sources before relying on a program. Funding, limits, rates, eligibility, and timelines can change.
Companion worksheets and planning tools
Open a section, complete it in your browser, then print it or save it as a PDF. These tools are educational starting points; your lender or program may require different documents and calculations.
90-Day Homebuyer Readiness Plan
Days 90–76: Establish the financial baseline
Days 75–61: Review credit and mortgage options
Days 60–46: Identify programs
Days 45–31: Build the team and search criteria
Days 30–16: Prepare the offer package
Days 15–1: Final readiness
Under contract: launch immediately
Key takeaways
Master Document Checklist
Identity and household
Employment and income
Assets and funds
Credit and liabilities
Prior ownership and housing
Program and education
Property and closing
60-Day Closing Calendar
Days 60–56: Contract and launch
- Deliver the complete executed contract to lender and program.
- Confirm exact closing date, contingencies, and DPA contract requirement.
- Complete mortgage application and initial disclosures.
- Submit DPA application and household documents.
- Confirm education requirement and certificate.
- Open title and order association documents.
- Order appraisal and inspections.
- Obtain insurance quotes.
- Record rate-lock and funding-reservation deadlines.
Days 55–46: Initial review
- Lender reviews income, assets, credit, and automated underwriting.
- Program reviews household, income, first-time status, and location.
- Buyer completes inspections.
- Parties negotiate repairs within contract deadlines.
- Title identifies ownership, liens, and exceptions.
- Insurance and flood status are evaluated.
- Missing documents are submitted in one organized package.
Days 45–36: Property and conditional approvals
- Appraisal is completed and delivered.
- Condo or association review begins or continues.
- Program property inspection occurs when required.
- First-mortgage underwriting issues conditional approval.
- DPA reviewer issues conditions.
- Repair work begins.
- Cash-to-close and credits are updated.
Days 35–26: Clear major conditions
- Resolve income, asset, credit, title, insurance, and appraisal conditions.
- Complete repairs and obtain invoices or permits.
- Schedule appraisal or program reinspection.
- Confirm assistance amount and permitted uses.
- Confirm reservation expiration and extension procedure.
- Reconcile contract price, seller credits, and loan structure.
Days 25–16: Closing preparation
- Obtain repair clearance.
- Finalize condo/project review.
- Program completes approval or committee review.
- DPA documents and closing instructions are requested.
- Lender updates disclosures as needed.
- Buyer moves final funds into the approved account with documentation.
- Closing agent confirms title and lien order.
Days 15–8: Final underwriting
- Update paystubs, bank statements, employment, and program certifications.
- Resolve final lender and DPA conditions.
- Confirm insurance effective date.
- Confirm exact assistance funding process.
- Prepare preliminary settlement figures.
- Avoid any financial or employment change.
Days 7–4: Disclosure and funding coordination
- Issue and review the Closing Disclosure in time for the required waiting period.
- Compare assistance, credits, earnest money, and cash to close.
- Program approves final closing statement.
- Program releases final documents and funding authorization.
- Closing agent confirms wire instructions by trusted phone contact.
Days 3–1: Final confirmation
- Complete final employment and fraud checks.
- Confirm first-mortgage clear to close.
- Confirm DPA authority and funds.
- Confirm final walkthrough and repair condition.
- Confirm buyer identification and certified/wire funds.
- Review the note, mortgage, assistance documents, and occupancy terms.
Closing day
- Sign only after questions are answered.
- Verify every amount and name.
- Obtain copies or secure access to the final package.
- Confirm recording, disbursement, and key-release timing.
Post-closing
- Save first-mortgage and DPA servicing contacts.
- Confirm the deed and liens record correctly.
- Calendar occupancy certifications and forgiveness milestones.
- Obtain the final title policy and recorded-document copies.
DPA Comparison Worksheet
Complete one column for each option, including a no-DPA alternative. Request written estimates prepared at the same time and using the same assumptions.
| Comparison item | Option A | Option B | No-DPA option |
|---|---|---|---|
| Program and administrator | |||
| Funding currently open? | |||
| Assistance amount | |||
| Grant / forgivable / deferred / amortizing / shared | |||
| First-mortgage product | |||
| Interest rate | |||
| APR | |||
| Monthly principal and interest | |||
| Mortgage insurance / guarantee cost | |||
| Total estimated housing payment | |||
| Total cash to close | |||
| Required buyer contribution | |||
| Required reserves | |||
| Upfront program or lender fees | |||
| Monthly second-mortgage payment | |||
| Forgiveness schedule | |||
| Repayment triggers | |||
| Estimated DPA payoff after 3 years | |||
| Estimated DPA payoff after 5 years | |||
| Estimated DPA payoff after 10 years | |||
| Appreciation/equity share | |||
| Refinance/subordination rule | |||
| Occupancy period | |||
| Property restrictions | |||
| Minimum contract period | |||
| Reservation expiration | |||
| Five-year total cost | |||
| Expected principal reduction in five years | |||
| Advantages | |||
| Risks and unresolved questions |
Cash-to-Close Worksheet & Calculator
Enter the down payment and transaction costs—not the full purchase price. The calculator subtracts verified credits and sources to estimate the remaining amount.
Uses of funds
Credits and sources
After-closing planning
Stress-test notes
Interview Questions for Your Team
Mortgage professional
- Are you and your company approved for the exact program?
- How many of these transactions has your operations team closed recently?
- What is the current program-linked rate and the comparable no-DPA rate?
- What lender overlays apply to credit, DTI, reserves, property, or loan amount?
- How is household income calculated and documented?
- What creates the assistance reservation?
- What are the rate-lock, reservation, delivery, and extension deadlines?
- Who communicates with the program and tracks conditions?
- Can you provide written side-by-side cost comparisons?
Real-estate professional
- Have you represented buyers using this exact program?
- How will you verify location and property eligibility before an offer?
- How will the financing, appraisal, inspection, and closing protections be addressed?
- How will you explain a 60-day timeline to the listing side?
- How will seller credits and repairs be negotiated without creating financing problems?
- What is the plan if the appraisal or program inspection requires repairs?
Program administrator
- Which current guide and income limits apply?
- Is funding open, and how is it reserved?
- What is the minimum contract period?
- Are there committee or closing-package deadlines?
- Which property types and inspections are required?
- What are the forgiveness, repayment, refinance, rental, and transfer rules?
- Who services the assistance after closing?
Closing agent or attorney
- Have you closed this program’s subordinate documents?
- Are you approved by the lender and program?
- What title coverage, endorsements, recordings, or legal opinions are required?
- How and when must DPA funds be requested?
- How do you verify wire instructions and protect against fraud?
- When will signing, recording, funding, and key release occur?
Housing counselor
- Is your course or counseling accepted by the program?
- Is the service individualized or general education?
- What fee applies, and is a waiver available?
- How long is the certificate valid?
- Can you help review affordability and the DPA obligation independently?
Official homebuying and consumer resources
These links correspond to the official-resource appendix in the book. Open the current program guide and confirm funding, requirements, participating lenders, deadlines, and effective dates.
National homebuying and counseling resources
First-mortgage resources
Tax resources
Consumer rights and complaints
DownAid educational resource
Book notes and source links
The audiobook does not read these web addresses aloud. They are preserved here as clickable references. Program examples explain structures and timing; they are not recommendations or guarantees of current availability.
Program landscape and DPA fundamentals 4 sources
Down Payment Resource, “Down Payment Assistance Continues to Expand in Q2 2026, Reaching 2,746 Programs Nationwide,” July 22, 2026. This industry database reported 2,746 homeownership programs nationwide as of July 1, 2026, including active, suspended, waitlisted, and inactive programs.
U.S. Department of Housing and Urban Development, HUD Housing Counselors Training Module 2.2 Study Guide. The module discusses down payment and closing-cost assistance, common eligibility factors, forgivable/deferred seconds, homebuyer education, mortgage insurance, and comparison of mortgage options.
Consumer Financial Protection Bureau, “Decide how much you want to spend on a home” and related Owning a Home resources. CFPB materials explain that 20 percent is not always required and encourage buyers to compare the full loan and closing costs.
National Council of State Housing Agencies, Housing Help and state housing-finance-agency directory.
The 60-day planning window and layered local review 6 sources
Miami-Dade County, Affordable Homeownership Program. The published application information requires an executed sales contract with at least 60 days remaining and lists extensive household, income, asset, education, and property documentation.
Miami-Dade County, First-Time Homebuyer Program. The published program page similarly calls for a contract with at least 60 days remaining and detailed supporting documents.
City of Elk Grove, Homebuyer Assistance Program Guidelines. The guidelines illustrate a different timeline and a detailed package involving the contract, loan application, disclosures, income/assets, education, approval, appraisal, inspection, pest report, title, credit, settlement statement, buyer funds, city evaluation, and closing documents.
Texas Department of Housing and Community Affairs, current Homebuyer Programs Rate Notice. The notice dated August 17, 2026, illustrates 60-day loan-purchase deadlines, compliance and funding cutoffs, and extension costs in a state housing-finance-agency delivery system.
HUD, HOME Frequently Asked Questions. HUD explains that before HOME assistance is provided, the participating jurisdiction must determine or verify income eligibility and inspect the housing for applicable property standards; HOME-assisted homebuyers also receive housing counseling under the cited rule.
Consumer Financial Protection Bureau, “Will I receive the Know Before You Owe disclosures when I shop for a mortgage?” CFPB explains that the Loan Estimate is generally provided within three business days of application and the Closing Disclosure at least three business days before closing for covered transactions.
Income, household, and first-time-buyer concepts 3 sources
HUD Exchange, HOME income and homeownership resources. HOME eligibility is based on household income under program rules and requires participating jurisdictions to document compliance.
HUD Exchange, HOME Income Determination resources and HUD Income Calculator.
HUD Housing Counselors Training materials and local program guidelines commonly use a three-year principal-residence lookback in defining a first-time buyer, with program-specific exceptions. Buyers should always use the definition in the current guide for the exact program.
First-mortgage programs and subordinate assistance 8 sources
HUD, “Let FHA Loans Help You.” HUD states that eligible FHA borrowers can have a down payment as low as 3.5 percent.
HUD, FHA Single Family Housing Policy Handbook 4000.1, Update 18, issued August 12, 2026. The current handbook and glossary define the Minimum Required Investment and contain authoritative FHA origination policy.
U.S. Department of Veterans Affairs, VA Home Loan Guaranty — Purchase Loan. VA states that eligible borrowers may obtain a purchase loan with no down payment required by VA, while lender and transaction requirements still apply.
U.S. Department of Agriculture Rural Development, Single Family Housing Guaranteed Loan Program. USDA describes 100 percent financing for eligible borrowers and properties, subject to household-income, geographic, lender, and program rules.
HUD, Section 184 Indian Home Loan Guarantee Program.
Fannie Mae, HomeReady Mortgage and HomeReady FAQs. Current materials describe low-down-payment financing and permitted sources including gifts, grants, and eligible Community Seconds under program rules.
Fannie Mae Selling Guide, Chapter B5-5, Community Seconds, Loans with Resale Restrictions, and Shared Equity Transactions.
Freddie Mac, Home Possible and Single-Family Seller/Servicer Guide Section 4204.2, Affordable Seconds.
Gifts, grants, credits, and source-of-funds rules 5 sources
Fannie Mae Selling Guide B3-4.3-04, Personal Gifts. The guide describes eligible gift uses, donors, documentation, and own-funds requirements for applicable conventional transactions.
Fannie Mae Selling Guide B3-4.1-02, Interested Party Contributions. The guide explains that seller and other interested-party contributions generally pay eligible costs and cannot be used to make the borrower’s down payment or reserves under Fannie Mae rules.
Fannie Mae Selling Guide B3-4.3-06, Grants and Lender Contributions.
Fannie Mae Selling Guide B3-4.2-02, Depository Accounts. The guide explains verification of funds and treatment of large deposits for purchase transactions.
HUD FHA Answers, “What costs can a seller or other interested party pay on behalf of the Borrower?” and current Handbook 4000.1. FHA policies should be verified in the current handbook and official answers before structuring concessions.
Resale, recapture, forgiveness, and shared appreciation 3 sources
HUD Exchange, “What are the resale and recapture approaches to affordability?” and related HOME FAQs. Recapture can require repayment from proceeds, while resale restrictions preserve affordability for a future eligible buyer under a formula and recorded restriction.
HUD Exchange, “What are the main features of recapture and resale?”
California Housing Finance Agency, Dream For All Shared Appreciation Loan Program Handbook. This current public example illustrates substantial down-payment assistance paired with a shared-appreciation obligation. Program availability, selection, amounts, and terms are subject to the current CalHFA handbook and announcements.
Mortgage Credit Certificates and federal tax sources 3 sources
Internal Revenue Service, Form 8396, Mortgage Interest Credit, and instructions.
Internal Revenue Service, Form 8828, Recapture of Federal Mortgage Subsidy, and instructions.
Internal Revenue Service, Publication 530, Tax Information for Homeowners.
Counseling, consumer disclosures, and rights 7 sources
HUD, About Housing Counseling and Housing Counseling Search. HUD-participating agencies offer pre-purchase education, individualized counseling, budgeting, credit counseling, fair-housing education, and other services.
Fannie Mae Selling Guide B2-2-06, Homeownership Education and Housing Counseling.
Consumer Financial Protection Bureau, Loan Estimate and Closing Disclosure resources.
HUD, Housing Discrimination Under the Fair Housing Act.
Consumer Financial Protection Bureau, mortgage discrimination and fair-lending information.
HUD, Report Housing Discrimination.
Consumer Financial Protection Bureau, Consumer Complaint portal and fraud-warning resources.
DPA and mortgage glossary
Search for a term used in the audiobook.
Adjusted value
A loan-program term generally based on the lesser of purchase price, appraised value, or another defined amount used to calculate maximum financing.
Affordability period
A period during which a publicly assisted home is subject to occupancy, resale, recapture, or affordability requirements.
Amortization
Repayment of principal and interest through scheduled payments over time.
Area Median Income (AMI)
A geographic income benchmark used to set eligibility limits, often adjusted for household size.
APR (Annual Percentage Rate)
A standardized measure reflecting interest rate and certain finance charges over the loan term; it is not the same as the note rate.
Appraisal
An independent opinion of property value prepared for the lender or another authorized user under applicable standards.
Assistance reservation
A conditional allocation of program funds for a buyer or transaction through a stated expiration date.
Borrower contribution
Funds the buyer must contribute from sources defined by the first mortgage or DPA program.
Cash to close
The amount the buyer must deliver at closing after down payment, costs, prepaids, deposits, credits, and assistance are reconciled.
Closing costs
Lender, title, settlement, government, and other charges associated with the mortgage and real-estate closing.
Closing Disclosure
The standardized disclosure showing final mortgage terms, payment, costs, credits, and cash to close for covered transactions.
CLTV (Combined Loan-to-Value)
Total balances of the first mortgage and eligible subordinate financing divided by property value under applicable rules.
Community Seconds / Affordable Seconds
Fannie Mae and Freddie Mac terminology for eligible subordinate financing that meets their respective requirements.
Conditional approval
An approval subject to listed documentation, verification, property, or other conditions.
Condominium
A form of ownership in which the buyer owns a unit and an undivided interest in common elements; project eligibility can affect mortgage approval.
Debt-to-income ratio (DTI)
Required monthly debt payments divided by qualifying gross monthly income.
Deferred-payment loan
A loan with payment postponed until a future event or maturity.
Down payment
The portion of the purchase price not financed by the first mortgage.
Down payment assistance (DPA)
A broad category of grants, loans, tax benefits, shared-equity structures, and other resources that help eligible buyers with upfront home-purchase costs.
Earnest money
A contract deposit that is generally credited to the buyer at closing and is subject to the contract’s terms.
Escrow
Funds held by a neutral party; in mortgage servicing, an account used to pay property taxes, insurance, or other charges.
Forgivable loan
A loan whose balance is reduced or eliminated when stated conditions are met over time.
Funding source
The public, nonprofit, employer, lender, bond, philanthropic, or other resource that supplies assistance.
Grant
Assistance with no ordinary repayment obligation when all written conditions are satisfied.
Homebuyer education
General instruction about budgeting, mortgages, contracts, closing, and ownership.
Housing counseling
Individualized housing and financial guidance delivered through a qualified counseling process.
Household income
Income counted under a program’s eligibility method, potentially including non-borrowing occupants.
Income limit
Maximum program income for a defined location, household size, and period.
Interested-party contribution
A payment or benefit from a party with a financial interest in the transaction, subject to first-mortgage limits and treatment.
Lien
A legal claim against property that secures repayment or performance of an obligation.
Loan Estimate
A standardized early mortgage disclosure showing estimated loan terms, payment, and closing costs.
Loan-to-value (LTV)
Loan amount divided by property value under the applicable program calculation.
Mortgage Credit Certificate (MCC)
A certificate issued by a qualifying government entity that may allow an eligible homeowner to claim a federal mortgage-interest tax credit.
Mortgage insurance
Insurance or a government premium/fee structure that protects the lender or guarantor against part of the risk of default; it is not homeowners insurance.
Occupancy certification
A statement confirming that the buyer occupies or intends to occupy the home as required.
Preapproval
A lender’s conditional determination based on a reviewed financial profile, subject to property and remaining requirements.
Prepaid items
Amounts collected at closing for items such as prepaid interest, insurance, and initial escrow deposits.
Principal residence
The home a person genuinely occupies as the primary residence.
Program administrator
The entity responsible for eligibility, approval, documents, funding, or servicing of the assistance.
Purchase-price limit
Maximum price or acquisition amount permitted by a program.
Rate lock
A lender agreement protecting stated mortgage pricing through a specified date, subject to conditions.
Recapture
A requirement to repay assistance or a subsidy under a program or tax rule after a triggering event.
Resale restriction
A rule controlling the eligible buyer, price, or use of an assisted property when it is sold.
Reserves
Verified assets remaining after closing, often measured in months of housing payment.
Second mortgage
A loan or obligation secured by a lien subordinate to the first mortgage.
Seller credit
An amount the seller agrees to pay toward eligible buyer costs, subject to contract and loan rules.
Shared appreciation
Assistance requiring repayment tied to a portion of the home’s increase in value.
Shared equity
An ownership or financing structure in which appreciation, value, land, or resale rights are shared or restricted.
Subordination
An agreement allowing one lien to remain behind another lien in priority, often during refinance.
Targeted area
A designated geography receiving special program treatment, sometimes including first-time-buyer exceptions or higher limits.
Title
Legal ownership of real property and the record of interests affecting it.
Underwriting
The review of borrower, loan, funds, property, and risk under applicable guidelines.
Educational information—not an approval or guarantee
This companion page and the book are educational resources. They do not provide legal, tax, accounting, credit-repair, real-estate, financial-planning, or individualized mortgage advice. Program availability, funding, income limits, purchase-price limits, property rules, rates, costs, and approved-lender lists may change without notice.
A program match, worksheet result, prequalification, or preapproval does not reserve funds or guarantee approval or closing. Final decisions are made by the applicable program administrator, participating lender, insurer or guarantor, and other authorized parties.
Verify current information with official program sources and qualified professionals before making financial or contractual decisions.