BOOK NOW
Get in touch
555-555-5555
mymail@mailservice.com

Down Payment Assistance for Clients (DPA)

DownPaymentResource.com

A FREE resource that pares down all available DPA programs for prospective homebuyers.





Learn More

Down Payment Connect

A searchable subscription database that provides comprehensive detail for city, county, SHIP & state DPA as well as proprietary and wholesale programs. Also a landing page to promote DPA.

Learn More

DPA FAQs

If you are new to down payment assistance programs, check out some of our FAQs.




Learn More

Down Payment Resource®

DownPaymentResource.com

Get  your clients the DPA help they need !

DownPaymentResource.com is a website that houses detail about all U.S. DPA programs including popular county SHIP programs, city and state programs and now even DPA available to licensed loan originators through mortgage wholesalers.


Homebuyers

Access Down Payment Resource directly to get a snapshot of what DPA programs are available to you.


MLOs and Realtors

Details about available DPA programs and charting differences between 1st mortgages and added DPA products has been a struggle in the past for loan originators. Through Down Payment Connect, a subscription based service, you can  have access to a statewide DPA directory and are provided a DPA landing page that connects clients directly to you. The robust DPA Directory has recently added filters that can help sift out DPA for clients based on income levels, property type, location, if a grant or 2nd mortgage and more! 

Demystifying DPA for Mortgage Professionals

Explaining Down Payment Connect

Join us for our 1st "Brokers & Bagels on Zoom" webinar - Apr 26, 2023 11:00 AM:

 

Join Sean Moss, EVP of Down Payment Resource, to explore Down Payment Connect, a unique tool that takes the mystery out of DPA. We’ll discuss and demonstrate how to:


  • Filter through all the DPAs out there to find what you need, including DPAs for brokers, and avoid scouring the web.
  • Access comprehensive contact info, guidelines, eligibility requirements and more for all programs.
  • Generate leads with your Down Payment Connect landing page.


Learn about different avenues of DPA available to licensed loan originators, like:


  • 1st mortgages offered together with a DPA 2nd mortgage.
  • 2nd mortgage DPA that can be added to an existing wholesaler first mortgage.
  • Wholesalers that can provide DPA now available to all licensed MLO’s within the state of Florida like Hometown Heroes, the Bond Program and more!

 

You will also receive tools that can help compare programs at a glance and introduce HUD Income Limit information almost always used for DPA programs.


Do your clients need down payment assistance? Email us at pam.m.marron@gmail.com with the city you're in, and we'll explore the DPA programs in your market live on the webinar!


Join us to demystify DPAs! Click here to register.

By Pam Marron 10 Apr, 2023
Clients2Homeowners.com makes a pivot!

Independent mortgage loan originators (MLO) have the greatest variety of DPA programs available for clients!


Wholesaler DPA Mortgages


Wholesaler lenders can provide:

  1. 1st mortgage and 2nd DPA combined financing where both programs are originated and underwritten at one wholesaler.
  2. 1st mortgages that allow DPA to be added to the originated 1st mortgage.
  3. In Florida, the Fl Housing Finance Corp (FHFC) Hometown Heroes, Bond and TBA DPA products.

1st mortgage combined with 2nd mortgage DPA:


  • Land Home Financial Services
  • Orion Lending
  • AFR

Wholesale lenders that allow DPA to be added to originated 1st mortgage:


  • UWM (has list of already approved DPA 2nd mortgage providers!)
  • PennyMac

Wholesalers that provide FL FHFC Hometown Heroes, Bond, and TBA Products


  • UWM (Hometown Heroes)
  • Windsor Mortgage (Hometown Heroes, Bond, TBA)
  • FBC (Hometown Heroes)
  • PRMG (Bond)

Are you a wholesale lender that provides combined 1st mortgages with 2nd DPA, 1st mortgages that allow DPA to be added, or  Florida state Hometown Heroes, Bond or TBA programs for independent loan originators? If so, click here to add your name to the DPA Wholesalers list. While you are at it, contact Sean Moss at DownPaymentResource.com and get added to the database!

An MLO's guide to getting started on Down Payment Connect


  1. Sign up for a subscription to Down Payment Connect: Go to https://downpaymentresource.com/dpc/ and sign up for a subscription to access the directory of available DPA programs by state.
  2. Download the DPA Mortgage Matrix Excel File. Are you a mortgage loan officer looking for a tool to help you compare Down Payment Assistance (DPA) programs for your clients? Down Payment Connect already has a 4 comparison chart to use with minimal criteria to get you started! However, an in-depth Excel DPA Mortgage Matrix was made for you to keep track of filtered detail as you get acquainted with Down Payment Connect. DPA can be compared on a variety of factors, including income limits, program type, and property eligibility. You can either download the sample spreadsheet from the download link here, or download a completed example matrix here. (Bold Red is priority copy and paste, un-bolded black is needed but not priority.)
  3. Go into the DPA Directory.
  4. Filter the database: Use the filters to narrow down the list of available DPA programs based on your clients' needs. Factors you may want to consider include region, program type, wholesale, retail, income limits, property eligibility, and other demographics that may affect eligibility. You should also ask your client for information about where they want to live, what they can afford, and other factors that may be important in determining their eligibility.
  5. Qualify your clients income correctly upfront! For DPA qualifying income, HUD Income Limits are commonly used and are different income levels than Fannie Mae and Freddie Mac Area Median Income (AMI) limits. In DPA Directory program profiles, go to Borrower Eligibility>Maximum Annual Household Income by Size to see each program income criteria. Click here to open HUD Income Limits Differ From Fannie Mae and Freddie Mac Area Median Income Limits that explains and shows the difference.
  6. Choose programs to compare: Once you have narrowed down the list of available DPA programs, you can choose which ones to compare based on factors like your clients' credit score, income, loan-to-debt ratio, and minimum funds for contribution.
  7. Copy and paste program variables into the Excel matrix: Once you have chosen the programs you want to compare, you can copy and paste the program variables into the Excel matrix for quick comparisons.
  8. Review the matrix and find the best DPA programs: Once you have filled out the matrix, review it carefully to find the DPA programs that best meet your clients' needs.
  9. Share the results with your client: Share the results of your analysis with your client and help them choose the DPA program that is right for them.
  10. Keep a copy of the matrix: Make sure to keep a copy of the matrix for future reference, so you don't have to reinvent the wheel every time you need to compare DPA programs for a client.


Down Payment Connect along with the DPA Mortgage Matrix empowers mortgage loan officers who want to help their clients find the right Down Payment Assistance program as quickly as possible. No more spending time searching the internet for valuable guidelines that can be accessed from one place. By following the steps outlined in this guide, we hope you can find and easily compare DPA programs based on a variety of factors. Down Payment Connect along with the DPA Mortgage Matrix and updates directly from Downpaymentresource.com will empower MLO's to ensure that your clients get the assistance they need to achieve their dream of homeownership.

Join us for our 1st "Brokers and Bagels on Zoom" webinar, "Demystifying DPA for Mortgage Professionals" on April 26th at 11am by
clicking here for more details. Or read our latest blog, Down Payment Connect Is A Game Changer For Mortgage Loan Originators.


DPA Program Frequently Asked Questions

  • What Is DPA And How Is If Funded?

    Many cities and localities including Indian Tribes and counties (usually listed as SHIP and NSP under type) have downpayment 2nd mortgages and grant assistance for eligible homebuyers. Florida at the state level also has DPA that is both the 1st and 2nd mtg and also just a 2nd mtg. 


    City, county, and state DPA programs are funded by local or state government entities and specific dollar amounts are allocated throughout the year. 

  • WHY include Wholesaler DPA Programs?

    In the last few years, wholesalers have begun to step up their game with DPA product offerings to independent MLOs. In addition to combined 1st mortgages with a 2nd  mortgage DPA included, more 1st mortgages where DPA 2nds can be added with select wholesalers are coming into the market. In 2023, the Florida Housing Finance Corp. made state Hometown Heroes, Bond and TBA programs available to independent loan originators through wholesale lenders, making the independent loan originator channel of DPA business more robust and competitive than ever! Why are these multiple channels of  DPA important? Wholesaler business is not dependent on state funding, so when funds for DPA run out, wholesalers can still provide independent loan originators with DPA programs. And a number of wholesaler programs offer higher ratios with better credit scores, a few have no max. income criteria, and interest rates are highly competitive with state programs.


    Wholesaler proprietary programs are available both in and outside of Florida.

  • If I Want DPA, Where Should I Start?

    Check County SHIP Funds First!


    The benefit of using county SHIP is that it provides a 2nd mortgage that is attached to an FHA, VA, Conventional, and USDA 1st mortgage with current interest rates. Sometimes 1st and 2nd DPA programs have a higher 1st and 2nd mortgage interest rate.


    However, county SHIP and local city DPA often have separate underwriting guidelines and restrictions, like income and ratio maximums and credit score minimums that are different than the 1st mortgage.


    Also, many county SHIP and city DPA programs require loan originators, realtors, and the client to take a HUD-approved class on homeownership in order to utilize DPA funds. Make sure to check all DPA underwriting criteria, availability of funds, and if you must be on an approved list before issuing a client pre-approval to find a home.  

Please let us know when you hear of new programs across the U.S. by emailing clients2homeowners@gmail.com

DPA Articles to Help MLOs

By Pam Marron 10 Apr, 2023
Clients2Homeowners.com makes a pivot!
By Pam Marron 26 Jan, 2023
Mortgage Loan Originators, Realtors and HUD Housing Counselors Who Need to Find and Promote Down Payment Assistance (DPA) to Clients Need this Tool!
By By Pam Marron | Clients2Homeowners.com 16 Mar, 2022
Here’s How to Organize DPA for Your Area and Start Selling!
By By Pam Marron | Clients2Homeowners.com 03 Feb, 2022
For Loan Originators and Realtors:
Show More
Share by: