DOWN PAYMENT ASSISTANCE PROGRAMS WORK TO MAKE HOMEOWNERSHIP MORE AFFORDABLE AND ARE USUALLY FOR FIRST-TIME HOMEBUYERS. First-Time Homebuyer Programs: Most DPA programs are administered by state and local governments, private entities, charitable organizations, and even lenders like us. They are often in the form of forgivable loans and grants. Down payment assistance programs are often income-restricted and available to buyers in specific cities, communities, or neighborhoods only. You’re considered a first-time homebuyer if you’ve never owned a home before or haven’t owned a home in the past three years, and the home was your primary residence. We know saving for a down payment is a challenge for many homebuyers. To help relieve you of financial stress, we offer a variety of down payment assistance (DPA) programs for conventional and FHA loans!
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