How Could it Work for You?
For many aspiring homeowners, one of the biggest hurdles to buying a home isn’t the monthly mortgage payment — it’s saving for the down payment. You’re not alone if this feels like a major barrier. The good news is, there are down payment assistance (DPA) programs designed to help make homeownership more accessible.
What Is Down Payment Assistance?
Down payment assistance programs are designed to help qualified homebuyers bridge the gap between their savings and the upfront costs of purchasing a home. These programs can come from state housing finance agencies, local municipalities, nonprofits, or employer-based programs, and are often available to first-time buyers — though not always limited to them.
Common forms of assistance include:
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Grants (that don’t need to be repaid)
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Forgivable loans (that may be waived after a certain time in the home)
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Deferred-payment loans (repaid when you sell or refinance)
Who Qualifies for Down Payment Assistance?
While every program is a little different, many share similar eligibility guidelines. You may qualify if you:
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Are a first-time homebuyer (or haven’t owned a home in the past three years)
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Meet income and purchase price limits based on your area’s median income
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Plan to live in the home as your primary residence
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Purchase a home in an eligible area or meet other local program criteria
Common Guidelines for Down Payment Assistance
Each program has its own rules, but most follow similar guidelines. You may need to:
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Meet income and home price limits based on your area
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Use the home as your primary residence
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Work with an approved lender
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Complete a short homebuyer education course
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Meet minimum credit and debt-to-income requirements
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Live in the home for a certain time if the assistance is forgivable or deferred
Down payment assistance isn’t one-size-fits-all; each program has its own requirements and benefits. That’s why having the right guidance matters.
Ready to Learn More?
At C21 Redwood, we partner with Atlantic Coast Mortgage to help you explore your options with confidence and clarity. Our combined team is here to make your path to homeownership a smooth one — from “What’s Next?” all the way to “Welcome Home!”
* Eligibility for all applicants cannot be guaranteed. Atlantic Coast Mortgage (“ACM”) and Century21 Redwood Realty are separate entities and are not affiliated. Consumers are not obligated to use either or both entities to obtain financing or purchase a property. | This is an advertisement, not a commitment to lend. Eligibility for all applicants cannot be guaranteed. | Atlantic Coast Mortgage, LLC (“ACM”) is an Equal Housing Lender | Company NMLS 643114 (For licensing information, go to: www.nmlsconsumeraccess.org) | Licensure & Product Disclaimers/Disclosures: www.acmllc.com/legal
