Purchase
Down Payment Assistance (DPA) Programs
Down payment assistance programs help eligible buyers cover part of the down payment or closing costs, through a grant, a second loan, or a combination.
Your secure application is with Cornerstone First Mortgage, LLC (NMLS #173855). Starting an application is not a loan approval or a commitment to lend.
How Daniel explains it
One of the most common myths Daniel hears is that you need a huge down payment saved before you can buy.
Assistance programs exist, but each one comes with its own rules: repayment terms, income limits, homebuyer education, and what happens if you sell or refinance. He'll lay those out side by side so you know exactly what you're agreeing to.
How down payment assistance works
- Assistance may come as a grant, a second loan, or both.
- Can be paired with FHA or conventional first mortgages.
- Some programs require a homebuyer education course or income verification.
- Some assistance must be repaid, including if the home is sold or refinanced within a set period.
- Programs available through Cornerstone include Chenoa Fund, Florida Housing and GSFA, depending on the state.
When down payment assistance may fit
- You have steady income but limited savings for a down payment.
- You're buying a primary residence.
- You're willing to complete homebuyer education if the program requires it.
What to know about down payment assistance
- Not all assistance is a grant. Some programs must be repaid, and many have income limits and occupancy requirements.
- A second loan can affect your monthly payment.
- Availability varies by state, county and funding, and can change.
Straight answers
Down Payment Assistance questions, answered
Do I have to pay down payment assistance back?
It depends on the program. Some assistance is a grant, some is a forgivable second loan, and some must be repaid, especially if you sell or refinance within a set period. Daniel will show you the terms before you commit.
Which assistance programs can I use?
It depends on your state, county, income and the home. Programs available through Cornerstone include Chenoa Fund, Florida Housing and GSFA. Daniel will check which ones fit your situation.
Down payment assistance may be available for eligible borrowers. Some assistance programs may require repayment, have income limits, or include occupancy requirements. Program availability varies by location and funding. Not affiliated with or acting on behalf of HUD/FHA, VA, USDA, or the federal government. Program availability and eligibility requirements apply.
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How it worksReady when you are
Your mortgage starts here.
Ready to take the next step? Start your secure application. Not sure which program fits? Contact Daniel's team and he'll walk through your options in plain English.
Your secure application is with Cornerstone First Mortgage, LLC (NMLS #173855). Starting an application is not a loan approval or a commitment to lend.