Click n’ Close SmartBuy National DPA
The SmartBuy National Down Payment Assistance (DPA) Program is a nationwide initiative designed to help homebuyers overcome the financial barriers of purchasing a home.
It combines a 30-year FHA or USDA first mortgage with a second lien that provides down payment assistance.
This assistance can be used toward the down payment, closing costs, or to buy down the interest rate.
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Product highlights
- FHA or USDA 30-year fixed first mortgage
- Down payment assistance up to 5% of purchase price
- Meets FHA and USDA minimum investment requirements
- No income limits or first-time homebuyer restrictions
- 660 minimum credit score
- Available nationwide (excluding NY)
- 5-year forgivable second lien option
- 10-year repayable second lien option (10, 20, or 30-year amortization)
- Temporary rate buydowns allowed
Borrower advantages
- Down Payment Help Nationwide: Offers 3.5% or 5% in assistance—usable toward down payment or closing costs.
- No First-Time Buyer Requirement: Available to both firsttime and repeat buyers.
- Flexible Program Options: 5-year forgivable second lien. 10-year repayable second lien.
- Fewer Barriers to Entry: No additional income limits outside of standard loan guidelines.
- Avoid Waiting to Save: Helps buyers get into a home sooner without needing to save a full down payment.
- Potential to Buy Down Rate: Funds can be applied to reduce the interest rate on the loan.
Realtor advantages
- Expanded Buyer Pool: Helps clients who are financially ready to own but lack down payment funds.
- Speeds Up Transactions: Buyers don’t have to wait months or years to save for a down payment.
- Increases Affordability: Clients can potentially afford more home by using the assistance to lower costs.
- Great Selling Point: A unique offering that helps differentiate you as a resourceful agent.
- Versatile Program: Works for a variety of buyers and property types across most states (excluding NY).
- Helps Close Deals: Easier to convert “on-the-fence” buyers into homeowners.
- Improves Buyer Confidence: Buyers feel supported and empowered to move forward.
Frequently asked questions
With short and easy to understand answers.
Couldn’t find your answer?
[email protected]What is SmartBuy National DPA?
SmartBuy National DPA is a down payment assistance program that helps cover upfront costs so buyers can purchase a home with less cash out of pocket.
How much assistance can I receive?
Assistance amounts vary based on loan type and eligibility, but it can significantly reduce what you need at closing.
Do I have to repay the assistance?
In many cases, the assistance is structured as a second loan that may be forgiven over time or repaid upon sale or refinance. We’ll explain the structure clearly before you commit.
Who is this program best for?
Buyers with steady income who qualify for a mortgage but need help bridging the down payment or closing cost gap.
Can SmartBuy be combined with other loan types?
Yes — it can often be paired with FHA, Conventional, or other eligible loan programs.
Couldn’t find your answer?
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