You may have heard of loans where you don’t have to put any money down, where the county or another entity will make the down payment for you. These are known as down payment assistance (DPA) programs. The down payment assistance can take many forms, such as a loan that will have to be paid back, or a grant that does not need to be paid back. Even though it sounds great that you don’t have to put any money down, many times the loans have higher rates and costs than if you did make a down payment. If you are considering a down payment assistance program to purchase your home, contact us and we can help!
** If you would like to see the other videos in the first-time homebuyer series, click below **
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