The friendly folks at down payment resources, also known as DPR, alerted me that they have a new logo. I have had a link to the service on this site for many years. This week I sent the link to a client and she is able to get up to $6000 in down payment assistance. The assistance usually isn’t a grant but low interest or no interest loan that has some strings attached in that they have to be paid back in full if the home is sold in the next few years and often home buyers are required to take a home buyer’s course which is actually helpful in understanding the home buying process.
With most home loan programs a down payment is required. Sometimes as little as 3.5%. When my husband and I bought our first home we took advantage of down payment assistance and paid off the loan when we refinanced several years later.