DOWN PAYMENT ASSISTANCE PROGRAMS (DPA)
Elevate DPA Grant (No lien / forgiven at closing)
Best for: Solid buyers who need help with cash-to-close
Structure: Grant — forgiven at closing with no lien
Eligible loans: FHA (1–2 units), Conventional (1–4 units), condos, PUDs; manufactured (conventional only)
Assistance amounts: FHA 3.5%; Conventional 1%, 2%, or 3% (of sales price or appraised value, lower of)
Minimum FICO: 620 Conventional (avg score allowed), 640 FHA
Use of funds: Down payment + closing costs
National DPA Repayable Second (3.5%–5.0%)
Best for: Buyers who can carry an added monthly payment
Structure: 10-year fully amortized repayable second
Assistance: 3.5% or 5.0% (lower of sales price or appraised value)
Interest: First note rate + 2%
Payment: Included in DTI calculation
Minimum FICO: 600
National DPA Forgivable Second (3.5% no payment)
Best for: Buyers planning to stay long-term and keep payments low
Structure: 0% forgivable second
Forgiveness: Forgiven after 10 years
Payment: No monthly payment required for the second
Notes: Avoid refinance during the 10-year period; on-time payments required
Minimum FICO: 600
Kind National DPA (Refinance-ready repayable option)
Best for: Buyers who want future refinance flexibility
Structure: 10-year repayable second
Assistance: 3.5% or 5%
Interest: First note rate + 1%
Key differentiator: Subordination allowed (after 6 payments) — refinance without paying off the DPA in full
Minimum FICO: 600