DPA Advantage Down Payment Assistance
When beginning the home-buying process, it can be overwhelming to calculate how large of a down payment you can afford. Thankfully there are resources to help! DPA Advantage provides a wide variety of borrowers with the down payment assistance they need in a form of a grant equal to 2.5% or 3% of the purchase price. This grant can be applied to eligible FHA purchases for qualified borrowers.
DPA Advantage eligibility is for anyone who falls under one of the following criteria:
- Income is equal to or less than 140% of median area income
- First-time home buyers
- Current, retired, volunteer, non-paid, or plan to become:
- First-responders (police officer, firefighter, public safety officer, paramedic, or emergency medical technician (EMT), including volunteers, or similar)
- Medical personnel (nurse, doctor, phlebotomist, health ambassador, or hospital, American Red Cross worker, or similar)
- Civil servant in a federal, state, or local municipality
- Military personnel
- Additionally, properties may be eligible if they are located in an underserved census tract
- If none of the above apply, at minimum, the income and credit must meet FHA total score card or manual underwriting requirement.
Reach out to one of our loan officers today to find out if you qualify for down payment assistance from DPA Advantage.
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