Down Payment Assistance in Glendale, AZ

Provides information and assistance on various programs available to help with down payments, making homeownership more attainable for a wider range of clients.

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We recognize that saving for a down payment can be a significant barrier to homeownership. That’s why we offer various down payment assistance programs to help you close the gap and turn your homeownership dream into reality.

Here’s what you’ll find on this page:

  • What is Down Payment Assistance?
  • Benefits of Down Payment Assistance
  • Programs We Offer
  • Eligibility Requirements
  • How to Apply
  • Additional Resources

What is Down Payment Assistance?

Down payment assistance programs are financial aids provided by various organizations to help both first-time and sometimes, repeat homebuyers gather the funds necessary for a down payment. These aids can be grants, low-interest loans, or tax credits.

Benefits of Down Payment Assistance:

  • Reduce your upfront costs: These programs can decrease the amount you need upfront, making buying a home more accessible.
  • Qualify for a better mortgage: A larger down payment often secures a lower interest rate and better loan terms for your mortgage.
  • Lessen your private mortgage insurance (PMI): A substantial down payment might allow you to avoid PMI, an additional monthly cost for loans with less than 20% down.

Programs We Offer:

We collaborate with various lenders and government agencies to provide diverse down payment assistance programs, such as:

  • Federal Housing Administration (FHA) 203(b) Program: This program allows for a minimum down payment of 3.5% of the purchase price.
  • USDA Rural Development Guaranteed Loan Program: This program provides down payment help to eligible borrowers in rural areas.
  • California Housing Finance Agency (CalHFA) Programs: CalHFA offers various programs with down payment and closing cost assistance targeted at first-time homebuyers in California.
  • Grant programs: We can help you connect with grant programs from non-profit organizations and local governments that assist with down payments and closing costs.

Please note: Program offerings and eligibility criteria may vary based on your location, income, and other factors. We encourage you to contact us to discuss your specific needs and explore available options.

Eligibility Requirements:

Eligibility for down payment assistance programs typically depends on the specific program but generally includes:

  • Income limits: Most programs set income thresholds to target the aid towards those who need it most.
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