When buying a home, many people focus on the down payment as the biggest hurdle. However, closing costs—which can include fees for the lender, title company, and other services—often add thousands of dollars to the total expense. If you’re relying on Down Payment Assistance (DPA) programs to ease the financial...
Are Foreclosures or Fixer-Uppers Allowed in Down Payment Assistance (DPA) Programs?
Down Payment Assistance (DPA) programs can help qualified homebuyers overcome one of the largest barriers to homeownership: the upfront money needed to purchase a home. But what happens when the home you're interested in isn't a traditional move-in-ready property? Maybe you've found a foreclosure at an attractive price. Or perhaps...
Down Payment Assistance Programs in the 50 States: Common Themes & Highlights
Shared Features Across State DPA Programs Grant, Loan, or Forgivable ModelsMost DPAs come in one of three forms: grants (non-repayable), deferred second‑mortgage loans (often interest‑free and forgiven after a set period or sale), or forgivable loans if certain conditions—like occupancy—are met. Primary Residence RequirementA near-universal requirement is that assistance be...