What is a Down Payment Assistance Program or Grant?
Down payment assistance (DPA) is a way for homebuyers to reduce the amount they need to save for the down payment on a home. DPA is offered through grants or low-interest loans and are available from over 2,000 programs nationwide. Most DPA programs are offered through state, county, and city governments, and the amounts available may vary depending on location. In the Arizona area, homebuyers seeking DPA may be eligible for thousands of dollars of assistance if they meet specific qualifications.
0% Down Payment Loans VS. Down Payment Assistance Programs
There are a handful of 0% down payment loan options available, including FHA loans, VA loans, USDA loans, and others, that you may want to consider if you have interest in putting as little money down towards your home purchase as possible.