WCDA’s Down Payment Assistance (DPA) loan products help borrowers achieve their dream of homeownership. These products assist borrowers with their down payment, closing costs, and prepaids. Each DPA loan product has these basic features:
$10,000 maximum loan amount
620 minimum credit score
$1,500 minimum borrower contribution required (may be a gift)
Landed helps essential employees purchase property. They also offer a shared equity option by providing down payment assistance which assists the buyer by allowing them to make 20% down payment. There are no income restrictions.
Landis helps renters buy their first home. People can pick out the home of their dreams, rent it for a year (while they build credit and save for a downpayment), then purchase it any time in the first year. Additionally, they offer people tools and incentives to enhance their credit score and build up their down payment.
If you’re a Veteran, and either you or your spouse is Native American, our Native American Direct Loan (NADL) program may help you get a loan to buy, build, or improve a home on federal trust land.
We offer housing grants for Veterans and service members with certain service-connected disabilities so they can buy or change a home to meet their needs and live more independently. Changing a home might involve installing ramps or widening doorways. Find out if you’re eligible for a disability housing grant—and how to apply.
The Section 502 Guaranteed Loan Program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may purchase, build, rehabilitate, improve or relocate a dwelling in an eligible rural area with 100% financing.
The borrower receives a 30-year, fixed rate, fully amortizing first mortgage loan with 360 level monthly payments as well as a down payment assistance equal to a percent up to 6.00% of the note amount to apply toward the required down payment, closing costs or prepaid items. Borrowers may also select a conventional loan with multiple down payment assistance options or an unassisted very low rate loan. Current mortgage rates are available online. Income limits apply and homebuyer education is required.