Down Payment Assistance

DPA Loan Program

The down payment Assistance Program is designed to provide down payment assistance to low to median-income buyers.  In addition,  we make it easy. This down payment is for a grant from a third party such as State and Local Government. The grant can be forgivable and can be used with FHA home loans and FHA renovation loans.

What are the Down Payment Assistance Qualifications?

  • DPA is a grant of 2% of the purchase price program  
  • Minimum qualifying credit score is 580 
  • May be combined with 6% seller concessions for closing costs
  • No restrictions on the borrower for resale
  • At least one borrower, a first-time buyer 
  • Borrower must complete homebuyer education
  • Income can’t exceed 140% of the Median Income for the County 

There are many DPA programs. Call us today to find out what program is best for you. 

**CharterStone Mortgage is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA, or the Federal Government.

Programs are subject to change without notice. All applicants must meet underwriting guidelines from the lender that are subject to change without notice and must meet all Federal and State regulations. This information is not guaranteed to be accurate due to changing financial and economic environment.  


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