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DOWN PAYMENT ASSISTANCE

Down Payment Assistance Programs Help First-Time Homebuyers Access Funds for Your Home Loan

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

  • Meet the eligibility requirements for income and credit history. These may vary depending on the type of loan solution.

  • Utilize a Down Payment Assistance program that is acceptable to your lender and the loan solution. Authorized loan solutions include Conventional, FHA and VA loans.

  • DPA options are available for both first-time and seasoned homebuyers

Happy Family
Happy Family

Down Payment Assistance for Conventional
& FHA Loans

  • 3% Down Payment Assistance from Fannie Mae on a loan with Loan-to-Value (LTV) maximum of 97%

  • 5% Down Payment Assistance from Freddie Mac on a loan with Loan-to-Value (LTV) maximum of 95%

  • 105% Combined Loan-to-Value (CLTV) with Down Payment Assistance

  • DPA Programs include: 

    • ​Fannie Mae HFA Preferred

    • Freddie Mac HFA Advantage

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Types of Down Payment Assistance Programs

The amount you can receive depends on the program. Some offer a percentage, typically 3-5% of the the total loan amount while others cap assistance at a certain dollar amount.

Your TSM Loan Officer will help you find a Down Payment Assistance that may be a fit for your home loan.

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