Down Payment Assistance (DPA) can help eligible homebuyers overcome one of the biggest obstacles to purchasing a home: coming up with the money needed for the down payment and, in some cases, closing costs. But what if you're not purchasing a home solely to live in? A common question is:...
What Age Do You Have to Be to Use a Down Payment Assistance (DPA) Program?
One question prospective homebuyers sometimes ask is: “Am I too young—or too old—to qualify for Down Payment Assistance?” In most cases, Down Payment Assistance (DPA) programs do not have a maximum age limit. Instead, eligibility is generally based on factors such as income, credit, the mortgage program being used, property...
Do You Need to Pay Back Down Payment Assistance (DPA)?
One of the most common questions homebuyers have about Down Payment Assistance is simple: “If I receive DPA, do I have to pay it back?” The answer is: it depends on the program. Down Payment Assistance (DPA) is not one specific type of financial assistance. The term describes a variety...
What to Expect When Using Down Payment Assistance (DPA) Programs: Understanding the Timeline to Closing
Down Payment Assistance (DPA) programs can make homeownership possible for buyers who may have the income and credit needed to qualify for a mortgage but need help covering the down payment, closing costs, or other upfront expenses. However, there is an important tradeoff buyers should understand: adding a DPA program...
Can Buyers Use Down Payment Assistance Programs More Than Once?
The number of times a buyer can take advantage of Down Payment Assistance (DPA) programs depends on the specific rules of each program. Here’s a general breakdown: 1. First-Time Homebuyer Restrictions Many DPA programs are designed for first-time homebuyers, defined as individuals who haven’t owned a home in the last...
Are Foreclosures or Fixer-Uppers Allowed in Down Payment Assistance (DPA) Programs?
Down Payment Assistance (DPA) programs can help qualified homebuyers overcome one of the largest barriers to homeownership: the upfront money needed to purchase a home. But what happens when the home you're interested in isn't a traditional move-in-ready property? Maybe you've found a foreclosure at an attractive price. Or perhaps...
Will Down Payment Assistance (DPA) Programs Also Permit Seller Contributions?
When purchasing a home with Down Payment Assistance (DPA), buyers often focus on one question: “How much assistance can I receive?” But there is another important question that could have a major impact on how much money you ultimately need at closing: “Can I receive Down Payment Assistance AND have...
The Downsides of Down Payment Assistance (DPA) Programs
While Down Payment Assistance (DPA) programs are an excellent resource for many aspiring homeowners, they are not without their potential drawbacks. It's important to weigh the pros and cons before deciding if DPA is the right choice for you. Here’s a look at some of the common downsides of DPA...
Debunking Common Myths About Down Payment Assistance (DPA)
Down Payment Assistance (DPA) programs are a fantastic resource for homebuyers, yet many misconceptions prevent people from exploring these opportunities. If you're considering buying a home, it's crucial to separate fact from fiction. Here are some of the most common myths about DPA programs—and the truths behind them. Myth #1:...
August 2026 Down Payment Assistance Update: Some Programs Are Changing—and Some Are Running Out of Funds
If you're planning to purchase a home using Down Payment Assistance (DPA), there is an important message for August 2026: Don't assume the program available today will still be available when you find your home. Down Payment Assistance programs across Florida and throughout the country are constantly changing. New funding...