The number one challenge preventing potential home buyers from entering the housing market is down payment. Recent statistics show that many renters believe they need a 20% down payment to buy a home, and that down payment assistance (DPA) programs are only for first-time homebuyers or low-income buyers. None of this is true. Almost every American can currently qualify to buy a home with no money down through a $0 down program or DPA program.
The key to using a DPA is to first know what is available to you which depends on your unique home-buying situation. It is not easy to figure out your options on your own. It takes a qualified local lender who knows ALL your options to get what’s best for you.
There are an estimated 2,400+ programs—some are nationally administered, some are state administered and some are administered by local jurisdictions. Many people are completely unaware that they could buy a home now with one of these programs.Click here to get matched with a local lender who knows your local programs.
The free service we provide will help you research popular local DPA programs that fit your specific home-buying needs. The process is not one size fits all. We’ll match you to the right local lender who will help identify the program that works best for you and who can close your home loan with little or no money down.
DPA by Loan Programs
Your home buying goals and needs are unique–so too are the features of the many programs that exist. You can use FHA, Conventional, VA or USDA financing to accomplish $0 down, reduced-down, reduced-MI, no-MI, broader qualifying, or some other home buying benefit. A common fallacy is that these programs are for first time home-buyers or for low-income borrowers. That is not true at all. While some programs are designed specifically for economic re-development in certain cities, the vast majority of programs are available for any primary home purchase and allow for any loan type.Click here to know which loan program matches your needs.
Home Buying Resources
Resources are available through HUD and other housing agencies to help you become educated, improve your home, receive assistance, and avoid foreclosure. Here are some of the services offered publicly to homeowners:
- Housing counseling agencies
- Predatory lending
Buying HomeAssistance programs
- Assistance programs
- HUD homes for sale
- Homeownership vouchers
Owning and Maintaining Your Home
- Home repairs
- Avoid foreclosure
- Make your home more energy efficient
Many more local resources can be found through HUD’s local Homebuying Programs resource center found here.
Here are some state-specific options. Pick your state to learn more about your options or find a DPA program that fits you:
Trusted DPA Advisors
Knowing your options and weeding through the vast number of programs can be mind-numbing. Be sure to talk to a qualified local lender who is certified to administer DPA programs in your state and local jurisdiction.
Unfortunately, many less knowledgeable, unscrupulous or un-certified lenders will attempt to steer you away from valuable programs that could help you, just to do what they want. Work with a trusted DPA advisor who will listen to your needs and understand your situation. A trusted DPA advisor can present ALL your personal options.
When you talk to the right lender, you can become pre-approved and confident that you are on the right path to home-ownership. You will know the right steps to take to access down payment assistance.
There is no need to fall further behind trying to save down payment money for a future purchase at higher prices and higher rates, when programs are available now to help you get the home of your dreams immediately. We’ve made it easy for you to start down that path. Take a few minutes now and talk to the right trusted DPA advisor, so you can buy a home with $0 down.