Summary of Down Payment Programs

  • Down Payment Assistance can be structured as a 2nd lien that is either forgivable or repayable depending on program.
    • Program 1
      • Forgivable 2nd for income at or below 115% of AMI(search AMI by county)
        • 3.5% assistance (rounded to the next highest dollar- do not round down) of the lower of the purchase price or appraised value
        • 30-year term, forgiven after 36 consecutive timely payments on the FHA 1st mortgage
        • There are no payments on the 2nd mortgage
        • 0% interest rate
    • Program 2
      • Fully amortizing 2nd loan for income above 115% of AMI with two options
      • 3.5% assistance (rounded to the next highest dollar- do not round down) of the lower of the purchase price or appraised value
      • 10-year repayment with 0% interest rate 
      • 30-year repayment with 5% interest rate
    • Program 3
      • Deferred Payment Loan or Deferred Payment Loan Plus
        • No payment until you sell, move, refinance or pay off the main 30 year loan
        • 0% interest rate, loan term = 1st mortgage term
        • Loan amounts up to $11,000  in $100 increments (Deferred)
        • Loan amounts up to $13,000 in $100 increments (Deferred Payment Plus)
    •  Program 4
      • Start Up/Step Up = Monthly Payment loan
        • Interest rate equals 1st mortgage rate
        • Loan amounts up to $17,000 in $100 increments
        • Equal payments over 10-year term, can be pre-paid
Closing Cost Assistance(Programs Found)
We have found available closing cost assistance that can be used to buy a home. Enter your information below to finish and save your application.
  • This will be your login/user name if you decide to use closing cost assistance to buy a home.
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  • If you know more than one score, enter them with a comma in between each score
  • If you pay a lease or rent
  • Check all that apply
  • If you have a part time job/2nd Job or Other Source of Income
  • If you have a second or part time job
  • Check all that apply
  • Co buyer Information

    Skip to the End and Hit Submit to Save Your Application If You Do Not Have a Co buyer
  • If you do not have a co borrower, skip to the end and hit submit
  • Must be different than the buyer
  • - -
    Must be different than the buyer
  • If you know more than one score, enter each score with a comma in between them
  • Who does the co buyer work for? If you have a co buyer
  • How much do you make per year. If you have a co buyer
  • If you have a co buyer
  • Check all that apply
  • If you have a co buyer with second source of income or a part time job
  • If you have a co buyer with second or part time job
  • If you have a co buyer with second or part time job, how much do you make a year at your second job
  • Check all that apply.


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  • Click Submit Below When You Are Done

DownPayment.cool/DownPayment.mobi are not a lender but strives for compliance with all applicable state and federal regulations pertaining to mortgage lending, advertising, and marketing including but not limited to all federal regulations set forth in title 12 of the Code of Federal Regulations, and the guidelines promulgated and/or enforced by the U.S. Department of Housing and Urban Development, The Consumer Financial Protection Bureau, and the Federal Trade Commission. DownPayment.cool/DownPayment.mobi is not affiliated with any government agency.  Information requests are not an application as applications would be subject to underwriting guidelines and approval. This does not constitute an offer to lend. Not all applicants will qualify for all down payment products offered.   All loan programs, terms and interest rates are subject to change without notice.  All fees are subject to state and federal high cost thresholds. Not all products are available in all states. Other restrictions and limitations may apply.

This is not an offer to enter into an agreement. Information, rates, & programs are subject to change without prior notice and may not be available in all states. All products are subject to credit & property approval. DownPayment.cool/DownPayment.mobi are not affiliated with any government agency.