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Down Payment Assistance Program

NEW-01

Get Down Payment Assistance up to $15,000

***Some restrictions apply.

One of the most difficult aspects of buying a home, especially for first-time buyers, is coming up with a down payment. Your monthly mortgage payment will decrease the more you put down, but the amount will also depend on how much you can manage to save each month.

Down Payment Assistance Program

Dream Home Mortgage offers you a grant for your down payment if you qualify for our program. The down payment help is available to you as a grant that does not require repayment (which only has to be repaid if you sell or refinance within three years). It’s a forgivable grant if the borrower lives in the house of 5 years. Downpayment assistance can help the first-time homebuyers in obtaining the money needed to become homeowners.
Income level, homeownership status, occupation, handicap, geography, parentage status, and other factors may be taken into account by down payment assistance programmes.

Ready to Buy a Home? Here’s Where to Start.

The first step is to check your eligibility for this program. To check your eligibility you can book a free consultation meeting with our experts lenders who will guide you step by step to execute the process. Call us (972) 245-5626

Who Qualifies for Down Payment Assistance?

Although eligibility requirements vary, this program focuses on first-time, low- to moderate-income homebuyers.

First Time Home Buyers

This program is only for first-time homebuyers, albeit different lenders and institutions may have varying definitions of that phrase. For illustration, a “first-time home buyer” could be someone who :
  • Never had a house of their own.
  • Has three years' worth of rental history.
  • Is a divorced parent who formerly co-owned a home with a spouse.
  • Is a "displaced homemaker" who co-owned a house with an ex-spouse in the past.

Home buyers with Low to Moderate Incomes.

This down payment assistance program is geared toward those with low to moderate incomes. Depending on the setting and organization, low to moderate income is defined differently. Up to 80%-100% of the Area Median Income (AMI) or state, city, or county income limitations are sometimes used to calculate eligibility for benefits.

Eligible State.

This program is for specific states in the United States.If you are from one of the following states in the United States of America, you may apply for this assistance :
  • Texas
  • Arkansas
  • Louisiana
  • Mississippi
  • New Mexico

Commencement of the program

On January 1, 2023, the Down Payment Assistance Program will begin. While there is money in the fund, assistance will be given. Therefore, to take advantage of this chance, be sure to submit your application in a timely manner.

Book your one on one free consultation meeting.

Call us (972) 245-5626

What People are Saying about Down payment Assistance Program

“The biggest financial choice we’ve ever made was to purchase a home, and we wouldn’t have been able to accomplish it without the down payment assistance we were awarded. My family and I are extremely appreciative of the loan officer at Dream Home Mortgage who made it possible for us to finally buy a house of our own.” Anonymous ,Home buyer.

“Although purchasing a home can be intimidating, I consider myself quite fortunate. I am really appreciative of the advice Hussein Panjiwani, my lender, gave me while I was buying a house. Additionally, I appreciate Dream Home Mortgage for assisting me in obtaining down payment assistance so that I could purchase my ideal home.” Anonymous , Home Buyer.

Frequently Asked Questions

Grants for down payment help all function differently. Some may offer funding for a shorter period of time than others, for a smaller total sum, or for a longer period of time overall. Allow time to research requirements and apply for help that fits your timeframe for buying a property.
You might ask friends and family for a loan, or you can accept gifts of money for a down payment from them or others. But do your research on possible down payment assistance—or you risk losing out on important funds.
The amount of the required down payment will vary depending on your desired monthly mortgage payment, the lender’s criteria, the amount of the down payment (a bigger down payment results in a lower monthly payment), and whether you want to avoid private mortgage insurance. A down payment can often be made between 3% and 20%.
The programme will begin on January 1, 2023, but you should begin the application procedure as soon as you can to increase your chances.

This program is for specific states in the United States.If you are from one of the following states in the United States of America, you may apply for this assistance:

1. Texas
2. Arkansas
3. Louisiana
4. Mississippi
5. New Mexico

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