The Power Purchase Down Payment Assistance Program (DAP) is a competitively priced Conventional loan program that requires only a 1% down payment from the homebuyer(s). Combined with a 2% Power Purchase Grant provides your borrower(s) a total of a 3% down payment.
This Power Purchase Program is available for both 1st time homebuyers and repeat homebuyers on their primary residence.
Refinance transactions are not eligible.
This home loan program is a purchase money first lien mortgage and provides down payment assistance in the form of a grant for purchase buyers on their primary residence.
- Minimum 620 credit score
- Must meet Freddie Mac Home Possible Advantage Guidelines
- 2% grant -no repayment required
- First time or repeat buyers
- 1% required from Buyer
- Reduced Mortgage Insurance