Welcome Home Down Payment Assistance
Homebuyers using fee-based financing from participating lenders may qualify for up to $10,000 in the form of two 0% interest, due-on-sale loans for down payment and closing costs on a home. These loans have no monthly payments and are paid back after 30 years or when the house is sold. Eligible buyers must finance their home purchase with products from an approved lender.
- Applicants must complete an approved financial wellness program prior to entering into a purchase agreement on a home.
- Buyers must also attend homebuyer education prior to closing. NeighborWorks Home Partners offers HomeStretch workshops that meet this requirement, or buyers can participate in Framework online education, or workshops offered by other HOC-approved providers.
- Buyers must have an income below 80% of Area Median Income.
- Buyers must finance their home purchase with an approved lender for this program.
- Homes must be in the 7-country metropolitan area, be owner-occupied, and 1-4 units. If purchasing a multi-unit property, buyers must also participate in landlord education.
- The housing affordability ratio for buyers must be 25% or greater.
- Buyers must have a minimum investment of $1,000 or 1%, whichever is lesser.
NeighborWorks Home Partners is an administrator of this program in partnership with Sakan Community Resource.
How to Get Started
Your loan officer will submit an application on your behalf. Please let them know you are interested in Welcome Home Down Payment Assistance and refer them to this page.