Down Payment Assistance – National Program

AFR is the administrator for a down payment assistance program which is offered by a governmental entity, which we are calling “DPA Advantage.” This nearly nationwide* program 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 can be used with the FHA 203(b) program and many of our FHA renovation programs.

PROGRAM HIGHLIGHTS

• DPA Advantage has two grant options available: a 3.5% grant and a 2% grant
• No repayment required
• No need for a second lien on the property
• AFR coordinates the application, approval and wiring of the funds; there is no need for you or the borrower to engage with a third party
• May be combined with up to 6% seller concession for closing costs
• Minimum qualifying credit score: 620
• Can be used with the FHA 203(b) program or any of our FHA renovation programs.
• Program has expanded to include eligible properties located in an underserved census tract: Underserved Census Tract Look-Up Tool

*Not available in WA, AK and HI