Six myths about down payment assistance
It is not free money, it is not only for first-time buyers, and many programs have no income limit. What is actually true about down payment help.
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Plain answers on down payment help, investor loans, self-employed income and what moves mortgage rates. Written by Robert Shamie, with every source named and dated.
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Articles
Down payment assistance
Forgivable or repayable: the two kinds of down payment assistance
Some down payment assistance is forgiven after you meet its conditions; some is paid back monthly or when you sell. How each works and how to compare them.
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Down payment assistance is usually a second loan signed at the same closing as your FHA mortgage. How it works, who offers it and what to ask.
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This page is general information, not a commitment to lend. Programs, terms and eligibility depend on credit, income, property and underwriting review and are subject to change without notice.