Down Payment Assistance

Opening New Doors to Homeownership

Program Overview

Buying a home is a big purchase, and sometimes a little help goes a long way. Some individuals, couples, or families may not have the funding necessary for a customary down payment when the perfect home comes along — even if they qualify for housing loans in every other respect. For some, keeping out of pocket costs to a minimum could mean the difference between buying now and waiting several years to become homeowners.

That’s why eLEND is participating in a down payment assistance program specifically designed for those who make a difference in other people’s lives, as well as first time home buyers. Offered by a governmental entity, the DPA Program allows eligible borrowers to receive down payment assistance in the form of a 2% or 3.5% grant on FHA purchases.

What is Down Payment Assistance?

Down payment assistance occurs when a portion of your down payment is funded through another source. Saving for a down payment is often one of the most significant barriers to home ownership, meaning that a DPA program like this one can be useful for borrowers seeking a more affordable lending solution when getting an FHA home loan.

Benefits of This Program

Help you purchase a home sooner

Many buyers remain on the sidelines, saving money and watching interest rates rise. Unlike some first-time home buyer programs, DPA programs provide grants (gifts) for your down payment and closing costs. These resources can immediately build your buying power, helping you take action on a purchase more quickly.

Live closer to work

In some cases, community service employees have trouble affording homes in the areas where they work. The DPA Program allows hometown heroes like police officers, firefighters, and teachers the ability to purchase a home within the community where they work, especially in high-cost areas.

Get In Touch

If you’re ready to get started today, give us a call:
(800) 634-8616.

Are you a Hometown Hero? Find out if you qualify here.

  • Is your income equal to or less than 140% of the median area income?
  • Are you a first-time home buyer?
  • Are you a current, retired, volunteer, non-paid, or do you plan to become:
    • First-responder (police officer, firefighter, public safety officer, paramedic, emergency medical technician (EMT);
    • Educator
    • Medical personnel (nurse, doctor, phlebotomists, health ambassador, or hospital worker, American Red Cross worker, or similar);
    • Civil servant in a federal, state or local municipality
    • Military personnel
  • AND NOW! Is your property located in an eligible underserved census tract? (Zip Code Lookup Tool)
If any of these sound like you, give us a call! Funds are limited, so don’t wait.

Need Help?

If you have any questions or need more information, please schedule a call to speak with one of our licensed mortgage professionals.