Down Payment Assistance
Short on funds? Don’t worry we got you covered!
How Does It Work?
How do our Down Payment Assistance Programs work? We partner with various housing programs in California to offer financial assistance to qualified homebuyers. These programs provide funds that can be used towards the down payment and closing costs of your new home. By reducing the upfront costs, we aim to make homeownership more accessible and affordable for everyone.
We are proud to be approved lenders for the most popular housing programs in California. Our expertise and experience in working with these programs allow us to provide you with comprehensive guidance and support throughout the entire process. We are well-versed in the eligibility criteria, application procedures, and documentation requirements of each program. Rest assured, we will help you navigate the complexities and make your homeownership journey as smooth as possible.
Grant or Repayable
Now, let's talk about the difference between a grant and a repayable loan. In the context of our programs, a grant is a type of financial assistance that does not need to be repaid. It is essentially free money that you can use towards your down payment and closing costs. On the other hand, a repayable loan is a loan that must be paid back over time. It functions as a second mortgage, and the repayment terms and conditions will vary depending on the specific program. While a grant provides you with financial relief, a repayable loan allows you to access additional funds while having the responsibility to repay them in the future.
What Are You Waiting For?
Act fast! It's important to note that some of our Down Payment Assistance Programs are on limited funding. This means that the availability of funds is subject to change. To secure your chance at receiving assistance, we encourage you to take action. Click the "Get Started" button below and begin your journey towards owning a home.
Requirements
Credit Score:
Minimum credit score for down payment assistance loans is 600 and a limit of 45% debt-to-income ratio.
Income:
You must be employed for a minimum of 2 years and provide supporting documentation such as W2s and tax returns.
Down Payment:
Although you are receiving assistance for down payment there will still be additional fees like closing cost that must be paid.
