Down Payment Advantage

GMFS is pleased to offer a number of Down Payment Assistance Programs to help more of your borrowers achieve homeownership.

DPA – Conventional with up to 4% DPA under a community second program

Flexible down payment and closing cost assistance
No first-time homebuyer requirement
Program qualification based on borrower income only, not household
The amount of the assistance is based on the lesser of the purchase price or appraised value, not the first mortgage loan
This Program is eligible in the following GMFS states – AL, AR, CO, GA, IL*, IN, KY, MS, MO, OK, TN, VA (*not available in Cook county)
Second lien is 30 year interest-only non-forgivable loan, can be paired with Home Ready or a standard Conventional DU loan
Brokers must use GMFS Disclosure Desk and compensation must be Borrower Paid

View DPA Programs by State

Smart DPA – FHA & USDA

3-year forgivable (0% second lien, forgiven after 36 on-time payments)
5-year forgivable (same, 60 payments)
10-year repayable (7.99% second lien, 30/10 balloon or 10-year note) FHA 1 st Lien 96.5% LTV
Max CLTV: 101.5% (FHA at 5% DPA)
No lender fees on second lien
Buydowns (2-1, 1-0) allowed to stack on the first lien
No income caps beyond USDA’s
Primary Residence 1-2 units purchase only
This program is eligible in all states that GMFS does business
Brokers must use GMFS Disclosure Desk

View DPA Programs by State

Fannie Mae HomeView Homebuyer Education Course

Essex Mortgagee Clause

Tools

DPA Compare Document

Tools – Conventional

DPA Conventional Training Deck

DPA Product and Underwriting Guidelines

Tools – FHA

FHA DPA Flyer

GMFS DPA FHA Guide

GMFS FHA DPA Training Deck

Related Announcements

Now Available to Correspondents — FHA Down Payment Advantage Can Close in Your Name

June 4, 2026

View DPA Programs by State

Alabama

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS

AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Fahe
Eligible State	AL, IL*, IN, KY, MS, MO, TN, VA
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023	* Not available in cook county

Arkansas

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS

AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Springboard
Eligible State	AR, GA, OK, CO
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023

Colorado

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS

AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Springboard
Eligible State	AR, GA, OK, CO
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023

Florida

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS

AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Georgia

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS

AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Springboard
Eligible State	AR, GA, OK, CO
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023

Illinois

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS

AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Fahe
Eligible State	AL, IL*, IN, KY, MS, MO, TN, VA
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023	* Not available in Cook County

Indiana

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS

AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Fahe
Eligible State	AL, IL*, IN, KY, MS, MO, TN, VA
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023	* Not available in Cook County

Kentucky

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Fahe
Eligible State	AL, IL*, IN, KY, MS, MO, TN, VA
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023	* Not available in Cook County

Louisiana

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Mississippi

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Fahe
Eligible State	AL, IL*, IN, KY, MS, MO, TN, VA
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023	* Not available in Cook County

Missouri

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Fahe
Eligible State	AL, IL*, IN, KY, MS, MO, TN, VA
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023	* Not available in Cook County

North Carolina

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Ohio

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Oklahoma

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Springboard
Eligible State	AR, GA, OK, CO
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023

South Carolina

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Tennessee

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Fahe
Eligible State	AL, IL*, IN, KY, MS, MO, TN, VA
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023	* Not available in Cook County

Texas

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Utah

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Virginia

Down Payment Advantage – FHA

Program	DPA – Forgivable	DPA – Amortized
Eligible State	All GMFS Eligible States	All GMFS Eligible States
Down Payment Assistance amount	3.5% Lesser of Purchase Price or Appraisal	3.5% Lesser of Purchase Price or Appraisal
Loan Program Eligibility	FHA	FHA
2nd Lien required?	Yes	Yes
Forgivable 2nd Lien?	No	After 10 years (Based on Program Requirements)
Do they have to be a first time homebuyer?	No	No
Minimum FICO Requirement	600 (Min 1 score per Borrower)	600 (Min 1 score per Borrower)
Max Loan to Value	Eligible AUS	Eligible AUS
Max Debt To Income	Eligible AUS	Eligible AUS
AUS/Manual Underwrite	DU	DU
Homebuyer Education Required?	Yes	Yes
Non Occupying Coborrower	FHA ONLY	FHA ONLY
As of 9/14/2023

Down Payment Advantage – Conventional

Program	Fahe
Eligible State	AL, IL*, IN, KY, MS, MO, TN, VA
Down Payment Assistance amount	Up to 4% ( Lesser of Purchase Price or Appraisal)
Loan Program Eligibility	Conv/HR/HP
2nd Lien required?	Yes
Forgivable 2nd Lien?	No
Do they have to be a first time homebuyer?	No
Minimum FICO Requirement	660
Max Loan to Value	95-97
Max Debt To Income	50% or Lesser of AUS
Area Median Income Limits %	Up to 140% AMI
AUS/Manual Underwrite	DU
Homebuyer Education Required?	Yes
Non Occupying Coborrower	Not Allowed
As of 9/14/2023	* Not available in Cook County

Essex Mortgagee Clause

Essex Mortgage ISAOA, ATIMA
P.O. Box 29411
Phoenix, AZ 85038-9411

Down Payment Advantage

DPA – Conventional with up to 4% DPA under a community second program

Smart DPA – FHA & USDA

Tools

Tools – Conventional

Tools – FHA

Related Announcements

View DPA Programs by State

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – FHA

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Down Payment Advantage – FHA

Down Payment Advantage – FHA

Down Payment Advantage – FHA

Down Payment Advantage – Conventional

Essex Mortgagee Clause

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