At Epiq Lending, we understand that coming up with a down payment can be one of the biggest challenges to buying a home. That’s why we’re excited to introduce the FHA Buyer’s Choice Down Payment Assistance (DPA) Program—designed to make homeownership more accessible to you!
What Is the Down Payment Assistance (DPA) Program?
The DPA program provides 3.5% or 5.0% of your home's purchase price to help cover your down payment and closing costs. It’s available for buyers across the country (except New York) and doesn’t require you to be a first-time homebuyer or have a certain income level. This means more people can take advantage of this incredible opportunity!
Two Flexible Options to Choose From:
- 10-Year Repayable Option:
- Low Interest: Choose a repayment plan that works best for you with options for 10-year, 20-year, or 30-year terms.
- Credit Score: Ideal if you have a credit score of 660 or higher.
- 5-Year Forgivable Option:
- No Repayment Required: This option offers a 0% interest rate, and after 5 years, the loan is completely forgiven—meaning you don’t have to pay it back!
- Flexible for Lower Credit Scores: Available if your credit score is 620 or higher.
Why Choose This Program?
- No Hidden Restrictions: You don’t need to be a first-time buyer or meet any income limits.
- Nationwide Availability: Available in almost all states, giving you more freedom to choose where you want to live.
- Helps with More Than Just the Down Payment: Funds can also be used to cover closing costs and other expenses, making it easier for you to move into your new home.
Ready to Get Started?
If you’re interested in learning more or want to see if you qualify, we’re here to help! Our team at Epiq Lending is committed to making your homeownership dreams come true. Contact your favorite EPiQ Loan Officer today to explore your options and take the next step toward owning your new home.
