Down Payment Money is out there. Let’s find it!

Many buyers find themselves in a position where they have the funds to make a monthly mortgage payment but do not have the funds for both a down payment and closing costs. An FHA down payment is typically 3.5% of the purchase price of the home. With closing costs averaging around 3% this can be a significant hurdle for buyers.

What is Down Payment Assistance?

Down payment assistance (DPA) helps homebuyers with grants or low-interest loans that reduce the amount they need to save for a down payment.

There are more than 2,000 of these programs nationwide. State, county or city governments run many of them.

DPA programs vary by location, but many home buyers could be in line for thousands of dollars in down payment assistance if they qualify.

Take a look at this video for more information