Down Payment Assistance Programs
Is a Down Payment Assistance (DPA) Program Right for You?
A Down Payment Assistance Program (DPA) gives out a variety of loans to help low or moderate-income people buy a home with 100% financing.
These loans include:
- US Department of Agriculture (USDA) Loans sometimes called RD Loans
- Tennessee Housing Development Authority (THDA) Loans
- Chenoa Funds
Each of these programs sets their guidelines to best serve the portion of the community they serve. Navigating which of these programs is right for you can be tricky as they all very greatly from each other.
Start navigating this course by asking yourself a few key questions:
Do I want to buy a house in rural area, a city, or some other state?
Do I have credit challenges?
What is both my individual income and my family income?
Have I owned a home in the past three years?
Though the terms and details of these loans differ, all offer very low effective interest rates and don’t require a cash down payment. We have solutions that work with all of these key areas.
John Fleming of People’s Home Equity is here to make the DPA loan process a whole lot easier, with tools and expertise that will help guide you along the way.
We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.
Refinancing a down payment assistance loan? We can help with that too.
The Down Payment Assistance Program Process:
- Connect with John to gather initial information about you
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs
Why a DPA Loan?
Two significant benefits to a DPA loan include no down payment required and borrowers can qualify for homeownership by using a gift or grant for their down payment.
We proudly help customers in Knox County, Hamblen County, Anderson County, Union County, Sevier County, Blount County and more.
Let us help find the right mortgage for you and your family. We'll discuss all of your loan options, what fits best for your budget and for your future plans.
With John Fleming of People's Home Equity, you're guaranteed to be in good hands during the home buying process.
We look forward to hearing from you!
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