Suncoast Affordable Mortgage Program

Down payment assistance (DPA) refers to loans or grants that help eligible home buyers cover the cost of down payments and closing costs.

DPA programs are often available to first-time home buyers or those with low to moderate income. These programs are offered by the state and local housing finances agencies, nonprofits, and lenders.

Assistance can be provided as a grant which doesn't need to be repaid or a loan. The loan may be a low interest loan, a forgivable loan, or a deferred payment plan loan, depending on the program's terms.

State housing finance agencies, local city and county housing authorities, and HUD approved counseling agencies.

Start by researching the DPA programs available in your area that you are interested in applying for. Many of the programs require you to either complete their homeownership counseling first or use a participating lender. Funds are first come first served, so it is important to know the details of your program before applying.

Suncoast no participa del programa Hometown Heroes.  Ofrecemos nuestra exclusiva hipoteca Suncoast Community Heroes. Conozca más sobre los beneficios de este programa en nuestro sitio web!

Yes, applicants cannot earn more than 120% of median income for the county in which the subject property is located. In addition, the DPA program may have income limits which vary by the specific program and location.

You are typically considered a first-time home buyer if you have not had ownership interest in a home within the last three years. The DPA program may have additional requirements to be considered a first-time homebuyer, which vary by the specific program and location.

The First Time Home Buyer 10/1 ARM is not eligible to include DPA funds. You can learn more about the benefits of the First Time Home Buyers 10/1 ARM program by visiting aquí en nuestro sitio web.