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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.

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Qualifying for Down Payment Assistance

  • Meet the eligibility requirements for income and credit history*.

  • Utilize a Down Payment Assistance program that is acceptable to your lender.

  • Choose a loan solution that is authorized by the Down Payment Assistance program.

  • 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.

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* Requirements can vary based upon the type of loan solution

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Down Payment Assistance for Conventional Loans

  • Up to 5% Down Payment Assistance from Fannie Mae (Fannie Mae HFA Preferred™) or Freddie Mac (Freddie Mac HFA Advantage®)

  • 105% Combined Loan-to-Value (CLTV) with select DPA programs

  • State-specific DPA and non-Bond programs with various percentage options depending on the rate

  • Zero percent interest with forgivable Down Payment Assistance on select programs

  • DPA income and purchase price limits apply

Down Payment Assistance for FHA, VA and USDA Loans

  • DPA allowed on FHA, VA and USDA home loans (State-specific options)

  • For 30-year, fixed-rate home loans

  • 100% Combined Loan-to-Value (CLTV) with VA or USDA loan solutions

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Types of Down Payment Assistance Programs

  • The amount you can receive depends on the DPA program.

  • Some cap assistance at a certain dollar amount.

  • Many regional programs offer bonds and grants, including forgivable options.

  • There are multiple levels of assistance. 

Your TSM Loan Originator will help you investigate Down Payment Assistance program options for your home loan.  

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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.

Connect with a Loan Originator Today!

By refinancing your existing loan, your total finance charges may be higher over the life of the loan.

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Town Square Mortgage

17300 Dallas Parkway
Suite 1030
Dallas, TX 75248
info@tsmlending.com
(972) 292-7600

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Copyright© 2024. All Rights Reserved. Equal Housing Lender. Town Square Mortgage, a DBA of American Portfolio Mortgage Corporation. NMLS ID 175656. 2401 Plum Grove Road, Suite 202, Palatine, IL  20067. Licensed by Alabama State Banking Department,  Consumer Credit License #23212. Expires 12/31/2024. Licensed by Arizona Department of Insurance and Financial Institutions, Mortgage Banker License #0920153. Expires 12/31/2024. Licensed by Arkansas Securities Department, Combination Mortgage Banker-Broker-Servicer License, #109676. Expires 12/31/2024. Licensed by Colorado Department of Regulatory Agencies Division of Real Estate, Mortgage Company Registration. Expires 12/24/2024. Licensed by Delaware Office of the State Bank Commissioner, Lender License #0299047. Expires 12/31/2024.  Licensed by District of Columbia Consumer Services Division, Mortgage Dual Authority License #MLB175656. Expires 12/31/2024. Licensed by Florida Office of Financial Regulation, Mortgage Lender License #MLD836. Expires 12/31/2024. Licensed by Georgia Department of Banking and Finance, Mortgage Lender License/Registration #34260. Expires 12/31/2024. Licensed by Idaho Department of Finance, Mortgage Broker/Lender License #MBL-2080175656. Expires 12/31/2024. Licensed by Illinois Department of Financial and Professional Regulation,  Residential Mortgage License #MB.0005608. Expires 12/31/2024. Licensed by Iowa Division of Banking, Mortgage Banker License #2012-0015. Expires 12/31/2024.  Licensed by Kansas State Bank Commissioner, Mortgage Company License #MC.0025217. Expires 12/31/2024. Licensed by Kentucky Department of Financial Institutions, Mortgage Company License #MC81341. Expires 12/31/2024. Licensed by Louisiana Office of Financial Institutions, Residential Mortgage Lending License. Expires 12/31/2024. Licensed by Maine Department of Professional and Financial Regulation, Consumer Credit Protection, Supervised Lender License. Expires 12/31/2024. Licensed by Maryland Office of Financial Regulation, Department of Labor, Mortgage Lender License #175656. Expires 12/31/2024. Licensed by Michigan Department of Insurance and Financial Services, 1st Mortgage Broker/Lender/Servicer Registrant #FR0020630. Expires 12/31/2024. Licensed by Minnesota Commerce Department, Residential Mortgage Originator License #MN-MO-175656. Expires 12/31/2024. Licensed by Mississippi Department of Banking & Consumer Finance, Mortgage Lender License #175656. Licensed by Missouri Division of Finance, Mortgage Company License #175656. Expires 12/31/2024. Licensed by Nebraska Department of Banking and Finance, Mortgage Banker License. Expires 12/31/2024. Licensed by Nevada Department of Business & Industry Division of Mortgage Lending, Mortgage Company License #4553. Expires 12/31/2024. Licensed by New Hampshire banking Department, Mortgage Banker License #23322-MB. Expires 12/31/2024. Licensed by North Carolina Office of the Commissioner of Banks, Mortgage Lender License #L-158767. Expires 12/31/2024. Licensed by Ohio Department of Commerce, Residential Mortgage Lending Act Certificate of Registration #RM.850217.000. Expires 12/31/2024. Licensed by Oklahoma Department of Consumer Credit, Mortgage Lender License #ML016634. Expires 12/31/2024. Licensed by Oregon Department of Consumer and Business Services, Mortgage Lending License #ML – 5460. Expires 12/31/2024. Licensed by Commonwealth of Pennsylvania Department of Banking and Securities, Mortgage Lender License #105845, and Mortgage Servicer License #105846. Expires 12/31/2024. Licensed by Tennessee Department of Financial Institutions, Mortgage License #112482. Expires 12/31/2024. Licensed by Texas Department of Savings and Mortgage Lending, Mortgage Banker Registration. Expires 12/31/2024. Licensed by Commonwealth Virginia State Corporation Commission, Lender License and Broker License #MC-5808. Expires 12/31/2024.  Licensed by West Virginia Division of Financial Institutions, Mortgage Lender License #ML-175656 and Mortgage Broker License #MB-175656. Expires 12/31/2024.  Licensed by Wisconsin Department of Financial Institutions, Mortgage Banker License #175656BA. Information About You and Your Visits to the Website Expires 12/31/2024.

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