What Is Down Payment Assistance?
Down payment assistance (DPA) programs provide financial support to eligible homebuyers to help cover some of the upfront costs associated with purchasing a home.
Depending on the program, assistance may be available in the form of:
Grants
Forgivable loans
Deferred-payment loans
Closing cost assistance
Gift funds
These programs can help reduce the amount of cash needed at closing and make homeownership more accessible for qualified buyers.
Common Down Payment Assistance Programs
Ohio Housing Finance Agency (OHFA)
Kentucky Housing Corporation (KHC)
FHA Loans
VA Loans
Communities First
City of Cincinnati Programs
Here's what you need to know to make homeownership more accessible.
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Featured Program: Freddie Mac VLIP
Freddie Mac Very Low-Income Purchase Program (VLIP)
Freddie Mac's Very Low-Income Purchase Program helps eligible first-time homebuyers by providing a $2,500 credit that can be applied toward:
Down payment costs
Closing costs
Minimum borrower contribution requirements
The program is available through eligible Freddie Mac Home Possible mortgages and is currently extended through February 2027.
Home Possible Loan Program helps very low income buyers.
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Is Down Payment Assistance Right for You?
Many buyers are surprised to learn they may qualify for assistance programs.
You may benefit from exploring your options if you are:
A first-time homebuyer
Purchasing with limited savings
Looking to reduce upfront costs
Purchasing in an eligible area
Unsure what programs are available
Our team can help you understand which programs may fit your individual situation.
Don't let this myth stop you from checking into your options.
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Frequently Asked Questions
Can down payment assistance be combined with other loan programs?
In some cases, yes. Certain assistance programs may work alongside FHA, VA, conventional, or Home Possible mortgages.
Is down payment assistance only for first-time buyers?
Not always. While many programs are geared toward first-time homebuyers, eligibility requirements vary by program.
How do I know if I qualify?
A mortgage professional can help review your financial situation and identify programs that may be available to you.
Do I have to repay down payment assistance?
It depends on the program. Some assistance is provided as a grant that does not need to be repaid, while other programs may offer deferred or forgivable loans. Program guidelines vary, and your lender can help explain the details.
Can down payment assistance help with closing costs too?
Many programs can be used toward both down payment and closing costs, helping reduce the amount of money needed at closing. Available benefits vary by program and borrower eligibility.
Let's Explore Your Options
Every homebuying journey is unique. Our team can help you understand available assistance programs and determine which opportunities may be right for you.