The Homeownership Urban Blueprint

Your Blueprint to Down Payment Assistance

Explore Affordable Down Payment Assistance Solutions with Expert Guidance from The HUB

 We understand that navigating the complexities of down payments can be challenging, which is why we’re here to guide you every step of the way.

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What is down payment assistance?

Down payment assistance is a valuable resource that helps first-time homebuyers overcome the financial barrier of coming up with a down payment to purchase a home. By providing financial support at the outset, down payment assistance enables individuals and families to achieve the dream of homeownership and start building wealth through property ownership. This assistance comes in various forms, including loans, grants, vouchers, and more, tailored to meet the diverse needs of homebuyers.

Who is down payment assistance for?

Down payment assistance programs are designed to be inclusive, offering support to individuals from all walks of life. Whether you’re a single professional, a growing family, a member of the military, or representing any other demographic, there are hundreds of programs available to help you realize your homeownership goals. Regardless of your income level, household size, ethnicity, or profession, there’s likely a down payment assistance program that can provide the support you need to take that crucial step towards owning your own home. To explore your options and find the right program for you, speak with one of our preferred lenders today!

PREPARING FOR DEVELOPING: YOUR TOP QUESTIONS ANSWERED

Eligibility criteria vary depending on the specific program, but common factors include income limits, credit score requirements, and residency status. Many programs are designed to assist first-time homebuyers, but some may also offer assistance to repeat buyers. It’s essential to research the specific requirements of each program to determine your eligibility.

Down payment assistance programs come in various forms, including grants, loans, and forgivable loans. Grants do not require repayment and are typically based on financial need or specific criteria. Loans may offer low-interest rates or deferred payment options, while forgivable loans are forgiven after a certain period of homeownership.

The application process for Down Payment Assistance (DPA) programs varies depending on the program’s requirements. DPA is incredibly individualistic and requires a conversation with either a lender or counselor. They will help you complete an application and provide documentation of your income, assets, and other financial information. DPA agencies require a HUD certified homebuyer education course to qualify.

Funding for down payment assistance programs may come from a variety of sources, including federal, state, and local government agencies, non-profit organizations, and private donors. Some programs may also receive funding through grants or subsidies from housing agencies or community development organizations.

The primary benefit of down payment assistance is that it helps homebuyers overcome the financial barrier of a large down payment, making homeownership more accessible. However, there may be drawbacks, such as income limitations, restrictions on the type of property that can be purchased, and potential repayment requirements for loans. It’s essential to carefully consider the terms and conditions of each program to determine if it’s the right option for your needs.

Downpayment Assistance Agencies

Atlanta Housing

INTERESTED IN BUYING A HOME? The Atlanta Housing Homeownership Program offers down payment assistance to first-time homebuyers who meet the eligibility requirements and the primary lender’s lending requirements and approval.

Invest Atlanta

Invest Atlanta offers down payment assistance to homebuyers looking to reside inside the City limits of Atlanta, which can be used for down payment and/or closing cost.  Requirements include attending a mandatory Q&A session.

LENDERS

Ameris Bank

Ready to buy your dream home? Downsize, refinance, build or buy your vacation home? We’ll help you choose the loan that fits your current financial situation, lifestyle and future plans. 

Cadence Bank

Our Vision - Helping people, companies and communities prosper. Our Mission - We meet customers where they are in their financial journey, providing expert advice and a broad array of products.

Fifth Third Bank

Whether you’re thinking about buying your first home or that vacation home you’ve always wanted , we offer mortgage solutions for needs big and small—and everything in between.

Regions Mortgage

While every lender has the same basic tools, Regions offers more than 150 unique products to fit each client’s personal needs. Our Affordable 97 and 100 programs are for low-to-moderate income homebuyers..

Silverton Mortgage

At Silverton Mortgage we understand that everyone’s situation is different. Like people, not all loans are the same. As your mortgage loan provider, we take your specific circumstances into consideration.

Supreme Lending

At Supreme Lending, BEST drives everything we do. Whether it’s working together to become our Personal and Professional BEST or delivering a world-class service experience for our customers.

United Community Bank

At United Community, we believe in combining top-of-the-line financial solutions with award-winning satisfaction for our customers. Our industry-leading experts and full suite of digital banking services.

Solar Energy Loan Fund

SELF’s mission is to rebuild and empower underserved communities by providing access to affordable and innovative financing for sustainable property improvements, with the primary focus on energy efficiency.

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