Bring a little MAGIC to your borrowers with DPA Advantage

Quick... what's one MAGICAL phrase you can learn to help your career as a real estate agent?

D.P.A.

Down Payment Assistance! This is one real estate acronym worth remembering!

Over the 15 years I've been in the mortgage business, I’ve learned that NOTHING helps a borrower more than down payment assistance. This week I want to make sure you know about the most powerful DPA program available which could potentially give your buyers up to 3.5% cash for a down payment!

Introducing: DPA Advantage

DPA Advantage is a government program that provides a WIDE variety of eligible borrowers with down payment assistance.

This assistance takes the form of a GRANT, not a loan! The grant is between 2-3.5% of the purchase price.

Who's eligible?

Borrowers must meet the following criteria:

  • Total income is not more than 140% of the median area income
  • First time home buyer

Other Things You Need to Know:

  • The DPA Advantage program is not just a stand-alone product. It can be combined with FHA's renovation program (203b), 1 time close.
  • The minimum qualifying credit score is 620.

That's IT!

*Bonus Program for Your Service Member Clients*

The Good Neighbor Next Door (GNND) Program: This unique program was created to help make our American community stronger, safer, and to encourage homeownership. The goal is to inspire those whose daily professional responsibilities are in the community, to live and stay in the community. HUD has developed this program to help these professionals to purchase homes located in revitalization areas at significant discount.

Ask my about the " Good Neighbor Next Door loan program for:

  • First responder (police, firefighter, paramedic, EMT)
  • Educator/Teacher
  • Medical personnel: nurse, doctor, etc.
  • Civil servant (federal, state or local)
  • Military

Remember - DPA is MAGICAL (to your buyers)

Down payment assistance is the #1 way you can help more buyers get into homes.

It's nothing short of MAGIC, especially this holiday season.

And, if you can find a motivated seller, you can even include seller concessions up to 6% which can cover all borrower paid closing costs.

Finish your year off strong and help a family get the home of their dreams this holiday season with a little DPA magic, courtesy of your favorite mortgage lender!


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.