Down Payment Assistance
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Down payment assistance (DPA) is a grant or second loan that helps cover the upfront cash a homebuyer needs to close.
What Down Payment Assistance means
Programs come as grants, forgivable loans, or deferred second mortgages. Florida's Hometown Heroes program, for example, offers up to $35,000 as a 0% deferred second mortgage for eligible buyers.
Florida example
A Florida first-time buyer pairs an FHA loan with $25,000 in DPA, turning a $15,000 out-of-pocket requirement into almost nothing down. Income limits and a homebuyer education course usually apply.
Help with the upfront cash
Down payment assistance, or DPA, is help covering the money to buy a home. It comes as a grant you never repay or a low-cost second loan. It goes toward your down payment or closing costs.
In Florida, most DPA comes through Florida Housing and local county programs.
Who qualifies
Most programs want you under a county income limit and finished with a short homebuyer class. Programs like Florida Hometown Heroes offer up to 5% of the loan amount.
We match you to the assistance you qualify for. Reach out and we will stack it with the right loan.
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