

DOWN PAYMENT ASSISTANCE
Down Payment Assistance Programs Help You Access Funds for Your Home Loan
Available for First-Time and Seasoned Homebuyers with Low-to-Moderate Incomes
We can help you access Down Payment Assistance (DPA) funds for your down payment and/or closing costs. Most DPA programs are provided by local city, county, state or federal housing authorities.
Qualifying for Down Payment Assistance
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Meet the eligibility requirements for income and credit history*.
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Utilize a Down Payment Assistance program that is acceptable to your lender.
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Choose a loan solution that is authorized by the Down Payment Assistance program.
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The property must be owner-occupied by a first-time homebuyer or family who has not owned or had an ownership interest in any principal residence during the last three years.
* Requirements can vary based upon the type of loan solution


Down Payment Assistance for Conventional Loans
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Up to 5% Down Payment Assistance from Fannie Mae (Fannie Mae HFA Preferred™) or Freddie Mac (Freddie Mac HFA Advantage®)
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105% Combined Loan-to-Value (CLTV) with select DPA programs
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State-specific DPA and non-Bond programs with various percentage options depending on the rate
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Zero percent interest with forgivable Down Payment Assistance on select programs
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DPA income and purchase price limits apply
Down Payment Assistance for FHA, VA and USDA Loans
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DPA allowed on FHA, VA and USDA home loans (State-specific options)
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For 30-year, fixed-rate home loans
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100% Combined Loan-to-Value (CLTV) with VA or USDA loan solutions


Types of Down Payment Assistance Programs
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The amount you can receive depends on the DPA program.
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Some cap assistance at a certain dollar amount.
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Many regional programs offer bonds and grants, including forgivable options.
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There are multiple levels of assistance.
Your TSM Loan Originator will help you investigate Down Payment Assistance program options for your home loan.
Down Payment Assistance must be repaid when the loan reaches maturity, the home is sold or refinanced or upon transfer of ownership or primary residence.