Learn About Down Payment Assistance (DPA)
We aim to provide you with all the information you need to understand down payment assistance for homebuyers. We understand that the home-buying process can be challenging, but we are here to support you every step of the way. Whether you're a first-time homebuyer or looking to purchase your next home, we have a down payment assistance program that suits your needs.
What is Down Payment Assistance?
Down payment assistance, also known as DPA, is a program that helps homebuyers to finance the down payment and closing costs of their home purchase. The DPA may come in the form of a grant, forgivable loan, or a low-interest loan. The goal of this program is to help homebuyers to overcome the financial barrier that often prevents them from owning a home. DPA provides essential financial support that helps homebuyers to achieve their dream of homeownership.
What are the benefits of Down Payment Assistance?
Down Payment Assistance has numerous benefits that can make homeownership more accessible and affordable for many families. It can reduce the amount needed for your down payment, which can be a significant barrier to homeownership. Some DPA providers offer lower than market rates, lowering your monthly mortgage payments, making homeownership affordable for more families.
Who is eligible for Down Payment Assistance?
Eligibility for Down Payment Assistance programs vary. While each of these program's guidelines vary, generally individuals and families that meet the following conditions are eligible:
- Must be purchasing a primary residence
- Their credit score is above the minimum requirement
- They meet income and purchase price limits if applicable to the program
- They must meet all standard guidelines
It is important to note that the criteria may differ depending on the DPA program and where you are located. Contact The French Team today to determine your eligibility.
Copyright©2025 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore
Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. Fairway is not affiliated with any
government agencies. This is not an offer to enter into an agreement. Not all customers will
qualify. Information, rates and programs are subject to change without notice. All products are
subject to credit and property approval. Other restrictions and limitations may apply. Equal
Housing Opportunity. *Eligibility subject to program stipulations, qualifying factors, applicable
income and debt-to-income (DTI) restrictions, and property limits.
At The French Team, we have qualified professionals that can guide you through the Down Payment Assistance process. Don’t let your finances hold you back from homeownership. Contact us today!
