Down Payment Assistance (DPA)

We know some potential homebuyers could really use a little help with their down payment. APM has access to hundreds of programs that can help buyers in specific geographic areas, in addition to broader programs that support larger areas. Talk to your Loan Advisor about regional assistance programs that may help you buy your home.

PRODUCT HIGHLIGHTS

› National DPA

  • Second mortgage loan up to 4% of the lesser of the appraised value or purchase price (no dollar cap)

  • May be paired with FAHE My Place Mortgage, or the Springboard to Homeownership Second

  • Not available in all states

  • DPA work in conjunction with an FHA loan- FHA product guidelines apply

  • Income limits apply

  • This DPA has option for repayment or forgivable over time

› Chenoa Fund

  • Down payment assistance provided will be 3.5% of the lesser of the sales price or appraised value

  • May be used with HomeReady or conventional standard first mortgage

  • Proceeds can be used for either down payment assistance, closing cost assistance, or a combination of both. Second mortgage proceeds may be used to fund up to 100% of the Borrower's cash to close.

  • Min 660 credit score

  • Income limits do apply

› Within Reach

  • 30 year fixed rate loan

  • Down payment assistance

  • No minimum down payment

  • Loan amounts vary by state/county requirements set by FHA

  • Income limits apply

  • Homebuyer education required for one borrower

  • Not available in New York