Program highlights
- Down payment assistance, 100% (Conv, FHA, VA, USDA)
- Conventional up to 97% LTV / 105% CLTV
- FHA minimum score of 580
- FHA $100 down
- Temporary buydowns
- High balance
What is down payment assistance?
Down payment assistance (DPA) is money that helps you cover the down payment, and sometimes closing costs, when you buy a home. It usually comes as a second lien, a forgivable loan, or a grant layered on top of your first mortgage. DPA is one of the most effective ways to buy sooner without draining your savings.
How it works
We offer 100% down payment assistance options on all agency loans: conventional, FHA, VA, and USDA. The assistance works alongside your main mortgage, not instead of it. Here are the common structures:
- Repayable second lien: a second loan with its own payment, repaid over time.
- Deferred second lien: no monthly payment, repaid when you sell, refinance, or pay off the first mortgage.
- Forgivable second lien: forgiven after you live in the home for a set number of years.
- Grant: funds that do not need to be repaid, subject to program rules.
On a conventional loan, the first mortgage can go up to 97% loan to value, and the combined loan to value with assistance can reach 105%. That extra room is what lets assistance cover both the down payment and part of the closing costs.
Each program sets its own rules. Common requirements include:
- Household income at or below a limit for your area
- A minimum credit score, which can be higher than the base loan minimum
- A homebuyer education course
- Living in the home as your primary residence
What to watch for
Assistance is a good tool, but it is not free money in every case. Some programs carry a slightly higher cost on the first mortgage, and repayable seconds add a monthly payment. We always compare the DPA option against the same loan without assistance so you can see the real tradeoff. Pairing assistance with a seller-paid temporary buydown can also lower your payment in the first year or two.
Who it fits
DPA fits buyers who can comfortably afford a monthly payment but have not saved the full down payment and closing costs. It is especially useful in a higher-cost market where saving 5% or more can take years.
What you need to apply
- Pay stubs and two years of W-2s or tax returns
- Income details for every adult in the household, when a program requires it
- Two months of bank statements
- A homebuyer education certificate, if required
- A valid ID
How we help in Austin
Down payment assistance options differ by city, county, and state, and they change often. We keep track of which programs are available for homes in Austin, Travis County, and the surrounding Central Texas counties, and we match you to the ones you actually qualify for. We also lend in 6 other states, so if you are buying outside Texas, we check the options there too.
Additional terms and conditions apply. Not all loan types are compatible with this product. Subject to underwriting conditions. Not a promise to make a loan. All borrowers must qualify.
Down Payment Assistance: common questions
Can down payment assistance cover my whole down payment?
In many cases, yes. We offer 100% down payment assistance options on conventional, FHA, VA, and USDA loans. On a conventional loan, the first mortgage can go up to 97% loan to value and the combined loan to value can reach 105%, so assistance can cover the down payment and part of closing costs. Program rules and eligibility vary.
Do I have to pay back down payment assistance?
It depends on the program. Some assistance is a grant, some is a forgivable second lien that is forgiven after you live in the home for a set time, some is deferred until you sell or refinance, and some is a repayable second with its own payment. We explain the repayment terms for each option in writing before you choose.
Are there income limits for down payment assistance?
Many programs have income limits based on your area and household size, and some are only for first-time buyers. Others are open to repeat buyers. Because each program counts income a little differently, we calculate your eligibility directly instead of relying on a general chart. If you are over one program's limit, another may still work.
Does down payment assistance cost more?
Sometimes. Some programs come with slightly different pricing on the first mortgage, and a repayable second lien adds a monthly payment. That is why we show you the same loan with and without assistance, side by side, including total cash to close. Then you can decide whether keeping your savings is worth the tradeoff.
Can I use down payment assistance with a VA or USDA loan?
Yes. Our 100% down payment assistance options work with all agency loans, including VA and USDA. Because VA and USDA often allow no down payment already, assistance on those loans is typically used to help with closing costs. Each assistance program has its own rules, so we confirm which ones pair with your loan type.