dpa: What you should know about Down Payment Assistance
- 07/26/16 05:04 AM
Down Payment Assistance (DPA) is a program offered by many “non-profit” institutions and government entities that provides First Time Homebuyers and non-First Time Homebuyers money to be used to pay for the Down Payment or Closing Costs and Prepaid Items necessary in buying a home. In most cases, the type of loans associated with DPA are government backed loans (FHA, VA), Fannie Mae’s HomeReady Program and Freddie Mac’s HomeSteps Program. There are thousands of companies and government entities offering DPA programs:
Loan Officers tend to pre-qualify a person without taking into account the guideline requirements of DPA programs. Make sure … (2 comments)
Down Payment Assistance (DPA) is a program offered by many “non-profit” institutions and government entities that provides First Time Homebuyers and non-First Time Homebuyers money to be used to pay for the Down Payment or Closing Costs and Prepaid Items necessary in buying a home. In most cases, the type of loans associated with DPA are government backed loans (FHA, VA), Fannie Mae’s HomeReady Program and Freddie Mac’s HomeSteps Program. There are thousands of companies and government entities offering DPA programs:
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