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Down Payment Assistance

Sometimes In Life All You Need Is A Little Help, Here is that Help

The lender will give you your full down payment!

Loan Requirements

-It's this simple

620 Credit Score

The minimum credit score is 620 and for manufactured homes it is 640.

Minimum of 2 Year Employment History

At least a 2 year work history is required, this is standard for any loan program. The 2 years do not have to be with the same company it is okay if you switched jobs as long as you have 2 years of employment. 

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Benefits of Down Payment Assistance

  • No Down Payment: This Program allows you to own a home with No Down Payment!
  • Up to 5% of the Sales Price Can Be Used: This loan program lets you use up to 5% of the sales price towards your down payment, closing costs, fees, pre-paids, and other closing expenses.
  • Sellers Can Cover Closing Costs: The loan agreement allows sellers to pay for your closing costs as well.
  • Forgivable: The down payment loan amount is completely forgivable after 5 years.
  • Refinance If Rates Drop: If rates drop, you may refinance to a lower rate and use the equity of your home to pay off any balance you may have.
  • No Income Restrictions: It does not matter how much money you make you can use this program towards home ownership.
  • No Separate Interest Rate or Monthly Payment: Unlike other DPA programs, there is no interest rate on the down payment assistance amount or a second monthly payment on it.
  • Used on single family homes AND 2 unit homes: That's right, you can live in one unit and rent the other for income!
Happy couple cheering their successful new home purchase thanks to Prime Rate Mortgage ™

Get Pre-Approved Now

What are you waiting for? Take the first step towards home ownership with a Prime Rate Mortgage pre-approval.

Property Options

Here are the property options you can buy with this loan

Primary Single Family

2 Unit Family Home



See What's Possible

Use our tools to see what homeownership could look like for you.

Mortgage Calculator

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Home Affordability

See how much home you can afford.

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Let Prime Rate Mortgage help you reach your home goals.

Frequently Asked Questions

Not necessarily, you can use seller credit and or get up to 5% of the sales price loan assistance to pay for most or all of your closing fees.

Yes! This loan program will not only allow you to use up to 5% of the sales price to pay for your closing fees but will also let you use a family gift. 


This program will allow for AUS to determine your DTI ratios. Max DTI for AUS is 56%!

No! We can close you as fast as in 14 days !


These materials are not from HUD, VA, or FHA and were not approved by HUD or any other government agency.

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