There are many Down Payment Assistance (DPA) programs available. A majority are State or local Government programs with various requirements and limitations. Some programs have minimum credit scores while others have income caps based on family size. Programs range from grants (free money) to silent 2nd mortgages (no payments due until the home is sold) or even traditional second mortgages or equity lines of credit. Whichever you qualify for, the objective is to reduce the amount of money a borrower needs to close on a property.
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