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From the spotlight collection · Down payment assistance
Down payment assistance may help you buy while keeping more savings on hand.
Get Pre-ApprovedSubject to eligibility, program availability and lender underwriting.
Down payment assistance may help you buy while keeping more savings on hand.
You can afford the monthly payment. But using most of your savings to close would leave little for the move, repairs or an unexpected bill. Down payment assistance may help eligible buyers reduce the cash they bring to closing.
For example, a buyer may have enough saved to close but want to keep an emergency cushion. An eligible assistance program could cover part of the down payment or closing costs so less of that cushion is used.
Choose the savings cushion you want after closing.
Review payments, fees and repayment conditions.
Confirm program, borrower and property eligibility.
You can afford the monthly payment. But using most of your savings to close would leave little for the move, repairs or an unexpected bill. Down payment assistance may help eligible buyers reduce the cash they bring to closing.
The question is whether the assistance leaves you in a stronger position after the purchase. I’ll compare the cash you keep, the full monthly payment, fees and assistance repayment terms with buying without assistance.
For example, a buyer may have enough saved to close but want to keep an emergency cushion. An eligible assistance program could cover part of the down payment or closing costs so less of that cushion is used.
Assistance can carry another payment, a higher first-mortgage rate or repayment conditions. Selling or refinancing may trigger repayment. The program must fit your income, credit, property and purchase plan.
Tell me how much you want left in savings after closing. I’ll review whether assistance supports that plan.
Get Pre-Approved