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DPA minus the penalty!

Down payment assistance (DPA) loans are a great option for buyers that need help with the biggest obstacle to homeownership: the down payment. The required down payment is based on a percentage of the home’s final sells price, with FHA the minimum down payment is 3.5%. If you qualify for a DPA, it can partially or completely cover your down payment!

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Most DPA loans require you to keep the original mortgage for 5 years and if you sell or refinance prior to 5 years, you have to pay back the down payment money you received from the grant- This is like a penalty when rates drop if you want to take advantage of a lower monthly payment.

We now offer an FHA down payment assistance mortgage where the grant for the down payment is forgiven at the closing. This means as soon as it makes financial sense, you can take advantage of improving rates and lower monthly payments, without having to pay anything back to the down payment assistance grant.

Wondering if you qualify? Give us a call today at (678)403-8027; we would love to connect you with the best financing for your situation!


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