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Key Highlights
The Benefits
Lower Upfront Costs
Reduce the cash needed to buy.
More Buying Opportunities
Expand your homeownership options.
Multiple Program Options
Explore programs that fit your needs.
What's Required
Program Eligibility
Requirements vary by program.
Mortgage Qualification
Income, credit, and assets are reviewed.
Homebuyer Requirements
Some programs include additional guidelines.
The Ins & Outs
How it Works
Down Payment Assistance (DPA) programs help eligible homebuyers reduce the upfront costs of purchasing a home. Depending on the program, assistance may be available for your down payment, closing costs, or both.
With thousands of assistance programs available across the country, EHG Mortgage works with multiple lenders and housing agencies to help identify the options that best fit your financial situation and homeownership goals.
Example Scenario
A first-time homebuyer has stable income but hasn't saved enough for a large down payment. A Down Payment Assistance program helps reduce their upfront costs, making homeownership possible sooner.
What is Down Payment Assistance?
Down Payment Assistance programs help eligible homebuyers reduce the upfront costs associated with purchasing a home, including the down payment and, in some cases, closing costs.
Who qualifies for Down Payment Assistance?
Eligibility depends on the specific program and may consider factors such as income, credit, location, property type, and whether you're a first-time homebuyer.
Do I have to be a first-time homebuyer?
Not always. While many programs are designed for first-time buyers, others are available to repeat homebuyers who meet the program requirements.
Do I have to repay the assistance?
It depends on the program. Some assistance is offered as grants, while others may be structured as deferred or forgivable loans, or loans that require repayment.
Can Down Payment Assistance be combined with other loan programs?
In many cases, yes. Depending on the program, Down Payment Assistance may be paired with eligible conventional, FHA, VA, USDA, or other mortgage options.
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