Down Payment Assistance Programs in Jeffersonville, IN
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Down Payment Assistance Programs (DPA)
Our motto is “We create Homeownership”, as such we’ve been searching for a lender with a down payment assistance (DPA) program to serve our clients in Indiana, Kentucky, & Florida … and we’ve found one!
Your search for down payment assistance near me is over, as Smith Broady & Associates has this product available for you!
Down payment assistance might be just what you need to make homeownership a reality. A DPA program comes into play when you haven’t been able to save enough for a down payment. NOTE: This is the single most item that holds people back from homeownership.
We are excited (insert drum roll) to announce that we are now able to offer down payment assistance (DPA).
How long does down payment assistance take? Well, it’s incorporated into your application process so it takes 30-45 days start to finish for your loan.
The states we are able to offer this service:
- Down payment assistance in Indiana
- Down payment assistance in Louisville, Kentucky and the balance of Kentucky
- Down payment assistance in Florida
Below are some high-level details:
- Maximum mortgage amount is $647,200
- This is a forgivable down payment assistance of either 2% or 3.5%
- First time home buyers qualify for the down payment assistance
- First responders qualify for the down payment assistance
- Doctors qualify for the down payment assistance – it’s not quite a doctor loan … it’s close
- Volunteers in their community (coaches, church, business organizations, and more) qualify for the down payment assistance
- Homes in an underserved census tract qualify for the down payment assistance
- 620 credit score
- Available with the following FHA loans – FHA 203(b) – Standard FHA loan, FHA Limited 203 (k) – Renovation loan, FHA Standard 203(k) – Renovation loan or FHA Repair Escrow
- Types of properties – 1-2 Unit homes, Manufactured (built on or after June 15, 1976), PUDs, or FHA Approved Condos
Sometimes these are referred to as down payment assistance grants, which are one in the same!
Click here to view a loan comparison sheet.
Do you think that a down payment assistance program is right for you?! Give us a call at 812-941-0926 and we can discuss with you.
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