Slide Buyer Down Payment Assistance Programs Down-Payment Assistance Programs, also called "DAP's," help homebuyers purchase a home by helping them with funds to be used towards their down-payment and/or closing cost.

This is turn helps a buyer reduce the amount of money they have to save in order to buy a home.


For the record, there are basically four types of DAPs that can be obtained by a qualified home buyer:
1. Grant: this is bascially a gift that will not have to be repaid;
2. 2nd Position Loan: As stated, is a 2nd loan on the home and monthly payments are made;
3. 2nd Position Loan: In this version of a 2nd, you do not make monthly payments and is only paid off when you sell or refi;
4. 2nd Position Loan: *Over time and if payments are made on time. The amount owed would be forgiving;
>>>Please note this is a general overview of the types of loans and one should speak with a lender regarding a program<<<
*This type of loan traditionally uses a 5 year span where it would be forgiven but it could be as high as 15 or 20 years
Slide Types of Down Payment Programs MyHome Assistance Program If you would like a referral to a trusted lender... CalFHA CalHome Program GSFA Platinum Program City Specific Programs First Home Mortgage Program And many more... Click Here Each program has its own guidelines and buyer requirements. Speaking with a lender who specializes in these types of loans is very important.