What is Down Payment Assistance?
DPA programs can help eligible buyers pay for:
Down payment
Closing costs
In some cases, reducing monthly payments by buying down the interest rate
First Residential partners with third-party providers to offer several DPA options for qualified borrowers.
Why It's Worth the Conversation
Many buyers assume they won't qualify for assistance, but First Residential's DPA options offer several advantages, including:
No income caps
Flexible credit eligibility (depending on the program)
Funding that doesn't run out
FHA, Conventional, and USDA loan options
Programs that can be applied toward down payment or closing costs
Every buyer's situation is different, so eligibility is determined by the Loan Officer.
When Should You Mention DPA?
Consider bringing up DPA when working with:
First-time homebuyers
Buyers concerned about upfront costs
Buyers looking to keep more money in savings after closing
A simple question can start the conversation:
"Have you talked with your Loan Officer about down payment assistance options?"
If not, encourage them to explore what's available.
How First Residential Helps
Rather than recommending a one-size-fits-all solution, Loan Officers take time to understand each buyer's goals, whether that's bringing less cash to closing, lowering monthly payments, or strengthening their offer. They'll compare available options and recommend the program that best fits the buyer's needs. As your lending partner, they'll also work directly with you throughout the transaction to help create the best possible outcome for your mutual client.
Featured Program
One available option is the 3.5% Forgivable Down Payment Program, which offers:
3.5% down payment assistance
0% interest
No monthly payment on the second lien
Forgiveness after five years if there are no late payments
Remember: You don't need to be the DPA expert. Simply identify buyers who may benefit and connect them with a First Residential Loan Officer who can review eligibility and recommend the best available option.
FirstResidential.com | 1-800-906-8960 | 1930 W Bennett St, Suite 100, Springfield, MO 65807 | NMLS # 1907 (www.nmlsconsumeraccess.org). Equal Housing Opportunity. For State Licensing information, please visit www.FirstResidential.com/licenses.| Note: First Residential is not licensed in NV, NJ, UT and NY.
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