Down Payment Assistance (Grants & Other Options)

What are DPA (Down Payment Assistance) Programs?

How can you make the dream of homeownership a reality?  Most First Time home buyers biggest struggle is with the Down Payment.  With over 2,500 DPA (Down Payment Assistance) Programs in the country, how can you make sure you find the one that is Unique to your situation?

Programs can include loans, grants, tax credits and other programs for eligible homebuyers that can help them achieve the down payment as well as cover closing costs.

Who offers these programs?

 

  • State Housing Finance Agencies (HFA).
  • Cities and Counties offer programs with criteria adjusted for local median income and home prices.
  • Housing Authorities
  • Non-profits

Who qualifies?

Qualifications depend on many factors:

  • Location of Property
  • Credit Scores
  • Income
  • Type of Property

All of these factors vary based on the DPA you’re looking to apply for.  Best to use an Experienced Mortgage Broker to help you in this area.

FIND OUT IF YOU QUALIFY

 

 

 

Regulatory Information: The State of Illinois | Division of Banking located at 100 W Randolph St, Chicago, IL 60601 (312) 814-4500 | NMLS # 266214 Dan Frio NMLS 246527