Down Payment Assistance Programs: Buy a Home with Little or No Money Down
There are dozens of low-money-down and no-money-down programs available for homebuyers. Many buyers do not realize how much help is out there or that they even qualify. With the right program, it is possible to buy a home with 0% down and zero dollars out-of-pocket. Rob Tennyson specializes in matching buyers with the right program for their situation.
Key Program Highlights
- 0% down payment possible
- $0 total out-of-pocket cost possible when combined with seller concessions
- Minimum credit score of 580 for most programs
- Forgivable and repayable assistance options available
- Programs available for both first-time and repeat buyers
Types of Down Payment Assistance
- Forgivable grants: Funds that do not have to be repaid if you stay in the home for a set period
- Silent second mortgages: A second loan at 0% interest that is deferred until you sell or refinance
- Matched savings programs: Government-matched contributions to your savings account
- First-time buyer programs: Special loan products with reduced down payment requirements
Who Qualifies?
Eligibility varies by program but typically depends on income limits relative to the area median income, first-time buyer status, credit score minimums, and property location. Some programs are available to repeat buyers as well. Rob can quickly determine which programs you qualify for based on your income, credit score, and target property.
Popular DPA Programs
- CalHFA MyHome Assistance Program
- CalHFA Zero Interest Program (ZIP)
- Golden State Finance Authority (GSFA) Platinum Program
- Golden State Finance Authority (GSFA) OpenDoors Program
- Forgivable Equity Builder Loan
Learn More About Your Options
Down payment assistance programs can change frequently. Rob stays current on all active programs and can help you figure out exactly what is available for your situation. Call 714-400-2317 or apply by clicking here.
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