Down Payment Assistance Loans

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Down Payment Assistance Loans

DPA Advantage is a down payment assistance program which is offered by a governmental entity. This nearly nationwide program is available in Missouri and Kansas and is designed to provide down payment assistance in the form of a grant equal to either 2% or 3.5% of the purchase price to a wide variety of eligible borrowers. This program has one set of guidelines for nearly all states and can be used with the FHA 203(b) program and any FHA renovation programs.

Program Highlights

  • DPA Advantage has two grant options available: a 3.5% grant and a 2% grant.
  • A simple one-step process.
  • May be combined with up to 6% seller concession for closing costs.
  • Minimum qualifying credit score: 620
  • Four qualifying pathways:
  • First Time Homebuyer
  • First Responder, Teacher, Military.
  • Income based.
  • Buying a property in an underserved census tract.
  • Only one pathway is needed to qualify.