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Down Payment Assistance (DPA)
We know some potential homebuyers could really use a little help with their down payment.
Preferred Rate has access to 5 National DPA programs, in addition to hundreds of programs that can help buyers in specific geographic areas.
Talk to your loan advisor about regional assistance programs that may help you buy your home.
As seen in:
Top military lender
NMP
Top mortgage lender
Scotsman guide
5-Star Lender
MPA
TOP LENDER
CALHFA
TOP EMPLOYER
DIVERSITY JOBS
TOP 100 MORTGAGE COMPANIES
MORTGAGE EXECUTIVE
5-STAR LENDER
Mortgage Professional America
TOP 250 LATINO MORTGAGE ORIGINATORS
NAHREP
MOST LOVED MORTGAGE EMPLOYERS
NMP
TOP MORTGAGE LENDER
Scotsman Guide
TOP MILITARY LENDER
NMP
TOP 15 VA LENDER
Scotsman Guide
Product highlights
- Assistance available for down payment and closing costs
- Grant and second mortgage options available
- Programs available nationwide and regionally
- Available for first-time and repeat buyers (program dependent)
- Income limits may apply (program dependent)
- Forgivable and repayable structures available
- Designed to reduce upfront cash needed to purchase
Borrower advantages
- Get their dream home now - don’t wait to save for a down payment
- Available for first-time or repeat homebuyers, co-borrowers don’t have to live in the property
- With low down payment options, cancelable mortgage insurance and more, homeownership can be more affordable
- Some options do not need to be paid back if requirements are met
Realtor advantages
- Get more buyers into homes with DPA loan options
- Expand your reach with additional programs that provide flexibility and financing alternatives
- Low down payment and DPA programs enable homeownership faster reality for many
Loan Programs
Loan Programs
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- Competitive rates
- Expert support
- Easy process