Making Homeownership More Achievable
Down Payment Assistance Programs
V.I.P. offers a variety of Down Payment Assistance (DPA) options designed to help qualified homebuyers bridge the gap and get into a home sooner.
Buy Sooner Than You Thought Possible
DPA can reduce the upfront cash needed so you don’t have to wait years to save.
Keep More of Your Savings
Use DPA to preserve funds for moving costs, emergency savings, or future home improvements.
Increase Affordability & Flexibility
Pairing assistance with the right loan structure can make monthly payments more manageable.
what is
Down Payment Assistance
Down Payment Assistance programs provide funds typically as a grant, forgivable second loan, or repayable second loan that can be used toward your down payment or closing costs. These programs work alongside eligible first mortgage products such as FHA or Conventional loans. Our DPA solutions support a wide range of buyers, including first time homebuyers, repeat buyers, and those who need help covering down payment and or closing costs. Based on our national program options, we provide access to multiple types of assistance, including:
Forgivable & Repayable Assistance Options
Some programs offer down payment support that is forgiven over time, while others provide a low-cost second lien that is repaid when you sell, refinance, or pay off the loan.
Your available assistance options vary by program: typically ranging from 3%–5% of the home’s price or appraised value.
FHA & Conventional Loan Compatibility
We partner DPA programs with popular loan types giving buyers flexibility to choose their best path to homeownership including:
- FHA 30-year fixed
- Conventional 30-year fixed (including HomeReady® or Home Possible® options)
Broad Eligibility for Buyers
While each program has its own rules, many of our offerings feature:
- Flexible minimum credit score requirements
- No strict first-time homebuyer requirement
- Generous income and purchase price limits in many markets
- Support for various property types such as
- Single-family homes
- Condos
- Townhomes
- Certain manufactured homes (program-dependent)
Nationwide Coverage
We offer DPA options across much of the country, with availability varying by state and local program rules. (Some programs have state-specific restrictions.)
Who Typically Qualifies?
Eligibility varies by program, but many buyers qualify if they:
- Meet minimum credit score requirements
- Stay within program income limits (if applicable)
- Select an eligible loan type
- Complete homebuyer education (required for many DPA programs)
- Plan to occupy the home as their primary residence
Ready to Explore Your Options?
Our V.I.P. Loan Officers specialize in matching homebuyers with the best DPA program available to them.
Let’s create your path to homeownership together.