🏡 Down Payment Assistance Programs:
Make Homeownership Possible
Don’t let saving for a down payment delay your dream of owning a home. With the Corey Johnson Team’s Down Payment Assistance (DPA) programs, you could purchase your home with minimal upfront costs—sometimes with no cash down at all.
🎯 What is a Down Payment Assistance Program?
Down payment assistance programs help eligible homebuyers overcome the barrier of saving a large sum upfront. These programs come as cash grants (which don't require repayment) or secondary loans (often forgivable), reducing or eliminating your initial down payment.
✅ How Do Down Payment Assistance Programs Work?
These programs are primarily designed for first-time homebuyers, though some programs have broader eligibility. They’re typically offered by:
● State and local governments
● Private organizations and charitable groups
● Mortgage lenders, like the Corey Johnson Team at CrossCountry Mortgage
Most programs are structured as forgivable loans or outright grants to help ease the path to homeownership.
📋 Qualifying for Down Payment Assistance
Eligibility varies by program but typically includes criteria such as:
● First-time homebuyer status
● Income limits (based on area median income)
● Property located within certain cities, communities, or neighborhoods
● Completion of a homebuyer education course
● Occupancy requirements (usually about 5 years for loan forgiveness)
First-time homebuyer definition: You haven’t owned a home in the past three years and plan to live in the house as your primary residence.
🌟 Corey Johnson Team DPA Program Options
We offer several specialized down payment assistance programs:
Program Name
CCM Smart Start
Freddie Mac
BorrowSmartSM
The National
Chenoa Fund
Essex
Max Assistance
2% up to $5,250**
Up to $1,250
4%
3.5% or 5%
3.5%
Income Limits?
Yes
Yes
No
No
No
Geographic Limits?
Yes
No
Yes (select states)
All states except NY
All states except NY & WA
First-Time Buyer?
Yes
No
No
No
No
📖 Recommended Articles
● Buying a Home with No Money Down
● What is an Energy-Efficient Mortgage (EEM)?
● Fannie Mae’s Low Down Payment for Multi-Family Homes
● Understanding the Hometown Heroes Program
● Down Payment Assistance Explained
🚀 Ready to Own Your Home?
Take your first step toward homeownership with down payment assistance from the Corey Johnson Team at CrossCountry Mortgage. Let’s find the right program for your financial situation and goals.
Contact us today to explore your options!