WHAT IS DOWN PAYMENT ASSISTANCE ?
Simply put, Down Payment Assistance ( also called DPA ) is Free Funding to home buyers through local State and Government Programs. These programs are made available to help people with financial assistance that can drastically reduce the amount you would need to save for a down payment on your new Home. Also many Banks and Mortgage Lenders offer their own Programs.
How to get started... first, contact a PHFA-approved homebuyer counselor and partticipating lender. ( your Agent can help you get started).
Credit requirements are a 680 FICO score and a free home buyer education course must be completed.
Buying a home takes more than just a mortgage. US Bamk is a partner to the home buying process. US Bank partners with many of the state and local programs, such as PHFA and offers a few of it's own programs.
Providing excellent service working to educate you, holding your hand through the process and working along with your agent to insure a happy home purchase.
For Rural and Surburban Homebuyers. Issued through private lenders.
A USDA loan is a mortgage that offers considerable benefits for those wishing to purchase a home in an eligible rural area, with 0% down.
the USDA loan's PURPOSE is to provide affordable homeownership opportunities to low-to-moderate income households to stimulate economic growth in rural and suburban communities throughout the United States.
Available in approximately 97% of the nations land madd which includes over 100 milliom people.