Down Payment Assistance (DPA) programs can be a game-changer for homebuyers. Legit programs can help cover part of your down payment and/or closing costs, making homeownership possible sooner than you thought. But there’s a catch: because DPA can sound like “free money,” scammers love to use it as bait. If...
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:...
Down Payment Assistance Programs in the 50 States: Common Themes & Highlights
Shared Features Across State DPA Programs Grant, Loan, or Forgivable ModelsMost DPAs come in one of three forms: grants (non-repayable), deferred second‑mortgage loans (often interest‑free and forgiven after a set period or sale), or forgivable loans if certain conditions—like occupancy—are met. Primary Residence RequirementA near-universal requirement is that assistance be...
Didn’t Qualify for Hometown Heroes? Don’t Give Up—There Are 250+ Other Down Payment Assistance Programs!
Many Florida homebuyers hear about the Florida Hometown Heroes Program and immediately assume it is their only opportunity to receive down payment assistance. While Hometown Heroes has helped thousands of hardworking Floridians become homeowners, the reality is that many people do not qualify because of income limits, occupation requirements, credit...