First Time Home Buyers
First Time Home Buyers & save thousands of dollars per year.
Down Payment assistance (DPA) for FHA Loans
The FHA Down Payment Assistance (DPA) loans offers 3.5 or 5 % with a repayable and forgivable option. For all products the borrower will need to have meet the criteria for credit and income
Repayable: This loan has a 10-year term with an interest rate 2% higher than the interest rate on the FHA first mortgage. This loan does require a monthly payment on the second mortgage.
- FICO (credit rating) down to 580
- 100% CLTV FHA Loan (Combines 1st and Subordinate Lien)
- Purchase Only
- No First Time Home Buyer Requirement
- Borrower’s minimum contribution of $0.00
First Time Home Buyers Process
Complete our simple mortgage pre-approval letter request
Receive options based on your unique criteria and scenario
Compare mortgage interest rates and terms
Choose the offer that best fits your needs
Forgivable Down Payment Assistance(DPA)
Home equity has proven to be one of the strongest ways for families to build and pass on intergenerational wealth. The Forgivable Down payment Assistance is committed to improving equitable access to homeownership for all Californians. The Forgivable Down payment Assistance Loan gives first-time homebuyers a head start on this with immediate equity in their homes via a loan of up to 10% of the purchase price of the home. The loan is forgivable if the borrower continuously occupies the home as their primary residence for five years The Forgivable Down payment Assistance Loan is a forgivable subordinate loan program.
- Up to 10% of the purchase price
- No repayment if you live in the home for five years
- May be used for down payment or closing costs
- Free post-purchase homeownership counseling
- Available for Manufactured Housing
